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Friday July 10th, 2020 11:31AM
11:30AM ( 1 minute ago ) News Alert

Total signs agreement for $111 million Notre Dame donation

By The Associated Press

PARIS (AP) — Oil company Total says it has signed an agreement to pay 100 million euro ($111 million) toward the reconstruction of Paris' Notre Dame Cathedral that it pledged shortly after April's devastating fire.

Total CEO Patrick Pouyanne signed an accord Thursday with the Heritage Foundation, an organization handling reconstruction payments. The money will be paid in installments from 2020 until the end of the work, which President Emmanuel Macron has said will take five years.

Last month, French billionaire Francois Pinault and his son finalized their 100 million-euro donation, a week after rival tycoon Bernard Arnault of luxury giant LVMH finalized his company's donation of 200 million euros.

The agreements follow months of delay that left officials reliant on small charity donations to fund the repairs' first phase.

  • Associated Categories: Associated Press (AP), AP World News, AP Business, AP Business - Corporate News, AP Business - Industries, AP Business - Utilities
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