Deals
France Sells Aeroports de Paris Stakes for 738 Million Euros
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France decided to sell nearly 10 percent of Paris airport operator Aeroports de Paris to a Credit Agricole Assurances unit and Vinci SA as the government seeks to shore up its finances amid ballooning deficits.
The French government and the country’s sovereign investment fund FSI expect to raise 738 million euros ($960 million) by selling a 4.8 percent stake to Predica, the life insurance subsidiary of Credit Agricole Assurances, and 4.7 percent to construction company Vinci for 78.5 euros a share, according to a statement on the Finance Ministry’s web site. The sale would leave the French state as majority owner in ADP with 50.6 percent of the shares.