French government to sell-off Paris airports

The French government is set to launch its first major sell-off with Paris airports due to go under the hammer, according to latest reports.

The Aeroports de Paris will be the first asset to be sold off. The group runs three airports in the French capital – Orly, Charles De Gaulle (CDG) and Le Bourget.

The French state owns a 50.6 percent stake in the company and appears ready to sell it all. It could earn up to €8.2 billion [US$10.2 billion] if it sold its 50.6 percent stake in a company worth €15 billion.

The government is likely to hold on to part of the group, which has seen its value triple since 2012 and will have to introduce a new law that allows it to sell its total stake.

Under the current law, the government must own at least 50 percent of the capital in the group.