French National Lottery And Betting Group Up For Sale

By Brian Cullingworth, Last updated Apr 13, 2018

France planning to sell 50 percent of Francaise des Jeux group though IPO

The French publication Journal du Dimanche caught the eye of the gambling world Sunday when it reported that the French government is planning to sell a stake of around 50 percent in national lottery and betting group Francaise des Jeux (FDJ) via a stock market listing as part of a wave of government business privatisations.

The government of president Emmanuel Macron has already announced that it is sell up to Euro 10 billion in state owned enterprises to finance an election pledge to create a new fund for finance innovation, the newspaper reported.

Investment bank BNP Paribas as well as law firm Weil, Gotshal & Manges LLP were mandated by France’s state holding company APE to pave the way for a sale of FDJ, which is 72 percent owned by the government.

The privatisation will involve the sale of shares in FDJ to the public through an IPO in an overhaul of the betting group that should be finalised no later than early 2019, the report claimed.

The state will retain just 25 percent of FDJ, while it is understood that a private investor in the gaming or media sector may also bid for a slice.

The Ministry for the Economy declined to comment on the report, which has not been confirmed by state holding firm APE.

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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