Best Overall Deal
Sydney Airports Corporation Sale
Advisers to the Government - Salomon Smith Barney
Deals like the sale of Sydney Airports to the Southern Cross Airports Corporation come but once in a blue moon. The monstrous A$5.59 billion price tag paid by the winning consortium led by Macquarie Bank was a stellar outcome for Australia's Commonwealth Government which was advised by Salomon Smith Barney. While Macquarie was criticized after the deal for paying too much in the three-way bidding war equating to 24.7 times 2001A EBITDA, there are few who will deny that Sydney Airports is a prized asset. SSB handled its mandate skillfully....