Aussie government picks three arrangers for Snowy privatization

Macquarie Bank, Goldman Sachs JBWere and UBS will lead manage the A$3 billion float of the renewable energy company.
The Australian government and its advisors Credit Suisse surprised pundits on Thursday by picking three of the busiest investment banks in the country to handle the privatization of Snowy Hydro. Macquarie Bank, Goldman Sachs JBWere and UBS were named as joint lead managers on the A$3 billion float despite commentators placing bets on Citigroup, Deutsche Bank and JPMorgan for the role.

Goldman Sachs JBWere and UBS are already acting as global coordinators on the third and final sale of Telstra shares due in Q3 valued at about A$25 billion, while Macquarie Bank is preparing the listing for Dyno Nobel. With SnowyƆs shareholders insisting that the IPO must be launched before June...

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