France approves the privatization of airport manager Groupe ADP

The French National Assembly has approved on Thursday the privatization of the airport manager Groupe ADP, the energy company Engie and the sports lotteries and betting company Française des Jeux, in the framework of the approval of the Action Plan for the Growth of Companies (PACTE) presented by the French president, Emmanuel Macron, in June.

According to the local newspapers, the privatization of Groupe ADP has materialized as a 70-year concession, so the French State will remain the ultimate owner of the airport manager. This model, in addition, will allow maintaining “strict costs in terms of price regulation,” said the French Minister of Economy and Finance, Bruno Le Maire.

Groupe ADP operates the airports of Paris-Charles de Gaulle, Paris-Orly and Le Bourget, although it is present in more than 30 countries. Currently, the State has 50.63% of the share capital, with an estimated valuation of 8,800 million euros.

On the other hand is the lottery and betting company Française des Jeus (FDJ). After its privatization, an independent authority will be created to regulate the game in France. The State accumulates 72% of the capital stock of FDJ.

With respect to Engie, the Government of Macron will eliminate the “restriction to maintain capital” of the company by the State. This will allow “give flexibility in their level of participation and accompany the group in strategic projects.” Currently, France holds 24.1% of the shares of the energy company, valued at 7,800 million euros.