FDJ 50% stake to be sold by French government via IPO – report (translated)
09 APR 2018
The French government is understood to have decided to sell about 50% of the national lottery company Francaise des Jeux (FDJ) via a listing on the stock exchange, French weekly Le Journal du Dimanche reported. The report cited a source as saying that a minority of about 25% in FDJ would be retained by the government. The French state currently owns 72% of FDJ, the report noted. The report added that existing shareholders would be able to either retain their shares or acquire more via preferential rights issue during the IPO. Existing shareholders include individuals, veterans’ associations, and the French tobacconists and newsagents’ federation among others.
The report also cited a source from the French Finance ministry as claiming that a major private player from the betting and entertainment industry could also acquire a shareholding in FDJ simultaneously and help with the company’s development.
The plan is expected to be presented to the president during a ministers’ council in May, the report went on to say.
FDJ generated sales of EUR 15.1bn in 2017. It pays about EUR 3bn in taxes annually to the state, a level that will be maintained post-privatisation, according to the report.
The original article appeared in print, page 2.
The original article appeared in print, page 2.