July 2, 2019 / 9:28 AM / 4 months ago

France names banks to work on privatisation of FDJ lottery firm

PARIS, July 2 (Reuters) - France named on Tuesday a host of investment banks to work on its planned privatisation of the state-run Francaise des Jeux (FDJ) lottery operator, which is aimed at raising money to fund innovation projects and boost the overall economy.

The French ‘APE’ (Agence des Participations de l’Etat) body said BNP Paribas, Citigroup, Goldman Sachs , SocGen, Credit Agricole, HSBC , Natixis and CIC would work on the FDJ deal.

The privatisations of companies such as airports group ADP and FDJ are integral to President Emmanuel Macron’s drive to curb government involvement where he believes the private sector would better deliver investment and change. (Reporting by Sudip Kar-Gupta; Editing by Dominique Vidalon)

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