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French Government sells 9.5% stake in Aeroports de Paris to Credit Agricole/Predica and Vinci

1-Jul-2013 2:03 PM

France's Finance Ministry stated (01-Jul-2013) France will sell a 9.5% stake in Aeroports de Paris to a Credit Agricole Assurances unit and Vinci SA. The French Government and the country‚Äôs sovereign investment fund FSI expect to raise EUR738 million by selling a 4.81% stake to Predica, the life insurance subsidiary of Credit Agricole Assurances, and 4.69% to Vinci for EUR78.5 per share, the Finance Ministry said. The sale would leave the French state as majority owner in ADP with a 50.6% holding. Credit Agricole/Predica now owns 4.81% of the company and Vinci has a 4.69% stake. The agreement calls for Predica and Vinci to keep the ADP shares purchased for at least 12 months and not to increase their stakes in the airport operator beyond 8% for at least five years. ADP shares closed at EUR74.71/share on 28-Jun-2013.  [more - original PR - French]