News & Announcements

Weil Represented French State in Landmark Privatization and IPO of Française des Jeux

Weil represented the French State in the landmark privatization and IPO of Française des Jeux (FDJ), the French state-owned company that runs the national lottery. FDJ had its first, largely oversubscribed listing today on the Euronext Paris stock exchange. The IPO, priced at the top of its range, raised €2 billion for the French government, whose share of the company decreased to 20%, from 72%. The €2 billion figure includes €380 million that the company paid to retain its monopoly on lottery and sports betting.

This high-profile and complex IPO is the first large French privatization since 2005.

The Weil team in Paris was led by Corporate partner Yannick Piette and Frédéric Salat-Baroux, head of the French Public Law practice, and included Marc Lordonnois, Quentin Lejeune and Romain Letard.