The French government plans to sell "a substantial" but "minority" share in Snecma before this summer, according to finance minister Francis Mer.
The move will disappoint chief executive Jean-Paul B‚chat, who recently said that he hoped the state would cut its 97.2% stake to under 50%, but should help the manufacturer become more independent, shed the stigma attached to state ownership and attract industrial partners, Mer believes. "This is not a question of fattening the state's purse but giving the business the means to develop with its partners," he says.
Source: Flight International
