France considers long-term ADP concession ahead of sale – report

PARIS (Reuters) – The French government is considering awarding a long-term concession to Paris airport operator ADP (ADP.PA) due to land ownership issues, ahead of a possible sale of a majority stake, business daily Les Echos reported.

ADP would be among state assets to be sold as part of a privatization program aimed at generating 10 billion euros to invest in innovation.

The government could 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 indicates in an online version of its Monday edition.

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

Concerning the lottery operator FDJ, also widely expected to be part of a privatization plan, the government plans to reduce its participation to between 25 and 30% against 72% currently, report Les Echos.

Privatization conditions could be spelled out in legislation expected to be unveiled in the spring, the newspaper said, adding that it could also allow the state to reduce its stake in utility company Engie (ENGIE.PA) below a threshold of one third of the voting rights.

No one at the French economy ministry was immediately available for comment.

(Reporting by Gus Trompiz and Caroline Pailliez, editing by Paul Simao)