A New Wave Of French Airport Privatization

Author:Mr Philippe Delelis and Nicolas Brice
Profession:Jones Day

On March 10, 2016, the French government launched the privatization process of the airports of Nice Côte d'Azur (2014 turnover:231.6 million) and Lyon Saint-Exupéry (2014 turnover:158.4 million). The French State is entitled to sell the 60 percent share that it owns in those airport companies by virtue of article 191 of Law #2015-990, dated August 6, 2015. The other shareholders are the local Chamber of Commerce and Industry (25 percent) and local authorities (15 percent). The bidders must come forward before March 24, 2016, and the selected candidates must present their first indicative offers before April 28, 2016 (Nice) or May 12, 2016 (Lyon). The government will consult the local authorities (regions), and the selected candidates must submit their best and final offers before June 20, 2016 (Nice) or July 7, 2016 (Lyon). The tender specifications are available (in French) on the French State Investments Agency (Agence des Participations de l'Etat) website, respectively under Côte d'Azur (Nice) Airport (closing expected before October 13, 2016) and Lyon airport (closing expected before October 27, 2016). The selection criteria will be the subject of intense scrutiny: concerns have arisen since the awarding of the State stake in the Toulouse airport to a Chinese consortium that offered the best price and eliminated the traditional operators.1 Bidders must now provide evidence of their previous...

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