France sells shares in Paris airport company

Jun 30, 2013, 11:31 AM

PARIS (AP) – The French Finance Ministry says it’s sold nearly 9.5 million shares in state-controlled airport operator Aeroports de Paris in a move to raise proceeds to help boost the ailing economy.

In a statement Sunday, the ministry says it raised a total of 738 million euros ($960 million) via the sale of shares to two different investors.

French insurer Credit Agricole/Predica bought just over half of the shares, and now owns 4.81 percent of the company, which runs Paris’ two main airports, Roissy-Charles de Gaulle and Orly.

French construction giant Vinci bought the remaining shares and now has a 4.69 percent stake in Aeroports de Paris. The government retains a 50.63 percent stake.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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France sells shares in Paris airport company