August 28, 2019 / 2:30 PM / 19 days ago

French lottery firm FDJ's privatization to take effect in coming months: Le Maire

FILE PHOTO: A scratch card from the French lottery company Francaise des Jeux (FDJ) is seen in this picture illustration taken June 15, 2018. REUTERS/Benoit Tessier/Illustration

PARIS (Reuters) - 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 on Wednesday.

“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.

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.

Reporting by Myriam Rivet and Leigh Thomas; Editing by Sudip Kar-Gupta

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