France Eyes $18 Billion Engie, Airports, Lottery Stake Sales

The French government will begin laying the groundwork this month for the sale of shares in energy provider Engie SA, airport operator Aeroports de Paris SA and lottery company Francaise des Jeux, potentially raising as much as EUR 15 billion.

Photo: /ritzau/AP/Peter Dejong/

Proposed laws clearing the way for the sales will be presented to the cabinet on Monday, government officials said in a briefing late Tuesday. The measures aren’t expected to pass parliament until late this year or early 2019, and the timings and terms of the sales have yet to be decided, they said. The proceeds would go to reducing the state’s debt and bulking up a government investment fund.

“We’ll decide when the moment comes, but it all depends on market conditions,” Finance Minister Bruno Le Maire said in an interview with Les Echos. “The state’s stakes in these companies represent about EUR 15 billion that are now immobilized and which would allow us to invest in our future.”

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