French Govt announces details of Groupe ADP divestment plan

France's Ministry of the Economy and Finance announced (18-Jun-2018) details of divestment of its 50.6% stake in Groupe ADP. The government's share amounts to EUR8.8 billion and it holds 58.6% of ADP voting rights. Divestment details include:

• Sale of assets will be accompanied by measures permitting the government to recover all previously held airport infrastructure and assets represented in its controlling stake after a 70 year period;
• During the 70 year period, assets will be non transferable unless government authorisation is approved;
• The government will legally hold authorising power over investments, infrastructure works and changes in control and ownership of ADP. The government and ADP will sign a multi year economic regulation contract every five years, with the state able to set airport charges and determine necessary infrastructure projects.

The Ministry, via its official website, announced it will present the PACTE bill to Parliament from Sep-2018. [more - original PR - French]