PSA privatization spoils likely to go to 1 of 3 banks

Goldman Sachs, Salomon Smith Barney and UBS Warburg are the hot favourites to act as global co-ordinator in the PSA Corp privatization. The IPO could raise as much as $4 billion.

From an original shortlist of seven, Goldman Sachs, Salomon Smith Barney and UBS Warburg are the frontrunners to be appointed global co-ordinator for the privatization of PSA Corp, the holding company for Port of Singapore Authority, say bankers. It is not yet known whether more than one foreign lead manager will be selected. The decision by Temasek, the Singapore government's investment arm, is likely to be announced tomorrow.

The other overseas banks pitching for the role are Credit Suisse First Boston, Merrill Lynch, Morgan Stanley Dean Witter and Nomura.

Recent reports suggest the initial public offering IPO of PSA will take place in October and could raise as much as $4 billion,...

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