New green light Assembly to the privatisation of Aéroports de Paris

Nouveau feu vert de l'Assemblée à la privatisation d'Aéroports de Paris

After about nine hours of debate, the relentless, the national Assembly has given Thursdays a new green light to the privatisation of Aéroports de Paris (ADP), backed by the government, but strongly opposed by the opposition.

Interventions chain, recalls the regulations and suspensions of the meeting: the deputies were eventually adopted by 42 votes to 17 in new reading, article 49 of the draft law Covenant, which plans to remove the obligation for the State to hold the majority of the capital of ADP (currently 50,63%, for a total estimated amount to 9.5 billion euros). An elected LREM, Pascale Boyer, abstained.

Since the first reading of the bill in October, this privatization has become, after its rejection in the Senate, the main bone of contention.

The oppositions of right and left – except the meps Act – have reiterated their criticism on “a bad deal”, “a lack of economic, strategic and historical”, a “fatal mistake”, a synonym for a “surrender of national sovereignty”.

Of deputies of the PS, PCF and BIA have announced that they would seize the constitutional Council, considering that it amounts to privatizing a “de facto monopoly”, as prohibited by the preamble of the 1946 Constitution.

The Economy minister Bruno Le Maire, has defended his proposed concession for 70 years as “the best way to ensure the development of this flagship” that is ADP (turnover of nearly 4.5 billion euros in 2018).

The operation must help the “deleveraging” of France and finance a fund for innovation, who will be “250 million euros of guaranteed revenue” per year, recalled the minister.

Communists and Dissenters have asked if it was a “gift to da Vinci’s””, in consideration of the abandonment of the airport project of Notre-Dame-des-Landes in which the group had to be the dealer. Robin Reda (LR) has also referred to a “crony capitalism”.

– “No privilege” –

But, assured the minister, the procedure of transfer will be “seamless”, “there will be no over-the-counter” and Vinci’s “will be obviously any privilege”.

“All options of the transfer” remain on the table, “with or without the maintenance of a participation of the State,” he also said, while the government spokesperson Benjamin Griveaux had indicated on Tuesday that the State would retain “approximately 20%” of the capital of ADP.

Nicolas Dupont-Aignan (Essonne), he found it “unhealthy” as a former advisor Emmanuel Macron, Bernard Mourad, is at the head of the French subsidiary of bank of America, bank-the State council for this operation. But Mr. Mourad came a year after the choice of this bank, according to The Mayor, who has accused the president of Standing the France of”damaging the public mind” by his “conspiracy theory”.

In the Face of the outcry against his project, and the minister has given a guarantee to local residents in particular.

Amendments LREM have provided protection measures: ceiling in the slots of flights and a curfew at Orly, compensation funds increased for the insulation work at Roissy.

The specifications that will be imposed on the dealer, and will be revised every ten years following an amendment in MoDem, was the subject of debate. Mps have called for a suspension of the work to consult the document, made available to them in a room schedule, measure found to be “sandbagging” by the minister.

Meps also adopted an amendment providing for “a competitive process” if the sale of the shares of ADP is not carried out fully on the financial markets, The Mayor is showing “very good”.

In the aftermath, the members have again approved the privatization of the Française des Jeux (FDJ), also challenged the minister indicating that an ipo is “the preferred form”.

They then gave their approval to the changes in the share capital of Engie (ex-GDF Suez), considered to be “dangerous” to the left. The provision, which authorizes the State to fall below one-third of the units, had been approved by the Senate, in contrast to the ADP and the FDJ.

The bill will be the subject of a vote of all at the end of his review, potentially in the night from Friday to Saturday, before returning to the Senate.

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