December 17, 2017 / 10:27 PM / 2 months ago

France to consider long-term ADP concession before sale: report

PARIS (Reuters) - The French government is considering awarding a long-term concession to Paris airport operator ADP (ADP.PA) because of land ownership issues, prior to a possible sale of a controlling stake, business daily Les Echos said.

ADP has been tipped to be among the state assets to be sold in a privatization program aimed at generating 10 billion euros to invest in innovation.

The government may first grant an operating concession of 50 to 100 years to avoid a complex overhaul of the legal status of ADP, which unlike other airport operators owns its land, Les Echos said in an online version of its Monday edition.

The government would in a second stage seek to sell its 50.63 percent stake in ADP, the newspaper said.

Regarding lottery operator FDJ, also widely expected to be part of a privatization push, the government is looking at reducing its stake to between 25 percent and 30 percent compared with the current 72 percent, Les Echos said.

    Privatization terms may be outlined in legislation due to be unveiled in the spring, the paper said, adding it could also allow the state to reduce its holding in utility Engie (ENGIE.PA) to below a threshold of one-third of voting rights.

    No one at France’s economy ministry was immediately available to comment.

    Reporting by Gus Trompiz and Caroline Pailliez; Editing by Paul Simao

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