Macquarie Bank, UBS AG and Goldman Sachs JBWere have been named as joint lead managers for the sale of Australia’s Snowy Hydro Limited.

Snowy Hydro’s current owners – the Federal, Victorian and New South Wales Government – said in a statement that the three companies will manage the A$3B (US$2.2B) initial public offering (IPO) of the power provider.

NSW treasurer John Della Bosca, Victorian treasurer John Brumby and federal finance minister Nick Minchin will oversee the IPO.

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