Credit Suisse wins advisory role on Snowy Hydro

With a mandate to pick joint lead managers for the A$3 billion float due by mid-2006 û the largest IPO in AustraliaÆs pipeline.
Credit Suisse has beat other likely contenders û including ABN AMRO and Lazard û to be appointed financial advisor to the New South Wales Government for the sale of renewable energy company Snowy Hydro.

The privatization of Snowy Hydro is the largest IPO slated for this year with an estimated market capitalization of between A$2.5 billion and A$3 billion. The NSW government wants the sale completed before 30 June so that it doesnÆt get caught in the undercurrent created by the final sale of Telstra shares due in the third quarter.

Credit Suisse wasnÆt among early predictions as the winner of the advisory role, with most pundits picking ABN AMRO because of its connections within...

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