Industry News

France Names Banks to Work on Privatisation of Francaise des Jeux

Published

6 years ago

July 5, 2019

Niji Narayan

France Names Banks to Work on Privatisation of Francaise des Jeux

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France has named a list of investment banks to work on the privatisation of Francaise des Jeux (FDJ) lottery operator, which aimed at raising fund for innovation projects and boosting the overall economy.

The French “APE” (Agence des Participations de l’Etat) body said BNP Paribas, Citigroup, Goldman Sachs, SocGen, Credit Agricole, HSBC, Natixis and CIC would work on the FDJ deal.

Finance Minister Bruno Le Maire said FDJ would be privatised by the end of the year, market conditions permitting. Asked how much the state could hope to raise from the sale of FDJ, he had just said “a few billion euros.”

The privatisations of companies are integral to President Emmanuel Macron’s drive to curb government involvement where he believes the private sector would better deliver investment and change.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.