The privatization process of French state-owned lottery operator Francaise des Jeux (FDJ) will take effect in the coming months, said French finance minister Bruno Le Maire this week.
The French state, which currently controls 72% of FDJ, has said it plans to retain at least 20% of Europe’s second-biggest lottery operator following the sell-off, promised for this year.
“We have started on the privatization of Francaise des Jeux which will take effect in the coming months,” Le Maire told a conference hosted by the MEDEF business organization. He said that it would most likely occur “during the month of November.”
The privatization of companies such as airports group ADP (ADP.PA) and FDJ are integral to President Emmanuel Macron’s plans to raise money to fund innovation projects and boost the overall economy.
In July, France named a host of investment banks to work on its planned privatization of the FDJ.
Source: GMB
