Electricity, Water and Steel

HC Deb 21 December 1988 vol 144 cc270-3W

Mr. Nigel Griffiths

To ask the Chancellor of the Exchequer if he will list advisers and underwriters appointed for foreign purchases of(a) electricity, (b) water and (c) steel; if he will state the cost of the appointments; and which countries are covered by the appointments.

Mr. Norman Lamont

Overseas banks have been appointed as set out below to advise on the desirability and feasibility of overseas offers in connection with the privatisations of British Steel, the water authorities of England and Wales and the electricity supply industry of England and Wales. Overseas advisers for the British Steel privatisation were appointed as lead managers in their territories when it it was decided to proceed with overseas offers or placings in the United States, Canada, Japan and continental Europe, and the underwriters for each of the overseas offers are also listed below. It is not the practice to publish details of individual contracts, but the costs of the British Steel flotation will be reported in due course in the usual way.

	Country	Overseas Financial Advisers	Overseas Underwriters
Electricity Supply	United States	Goldman Sachs	Not applicable
British Steel (Financial advisers subsequently appointed as lead managers for offers for sale of British Steel, in United States, Canada Japan and for a Placing in continental Europe)	United States	Goldman Sachs	Goldman Sachs and Co.
			The First Boston Corporation
			Merrill Lynch, Pierce, Fenner and Smith Inc.
			Morgan Stanley and Co. Inc.
			Salomon Brothers Inc.
			Bear, Stearns and Co. Inc.
			Alex. Brown and Sons Inc.
			Dillon, Read and Co. Inc.
			Donaldson, Lufkin and Jenrette Securities Corporation
			Drexel Burnham Lambert Inc.
			Kidder, Peabody and Co. Inc.
			Lazard Freres and Co.
			PaineWebber Inc.
			Prudential-Bache Securities Inc.
			Shearson Lehman Hutton Inc.
			Smith Barney, Harris Upham and Co. Inc.
			S. G. Warburg and Co. Inc.
			Wertheim Schroder and Co. Inc.
			Dean Witter Reynolds Inc.
			Advest Inc.
			Arnhold and S. Bleichroeder Inc.
			William Blair and Company
			J. C. Bradford and Co.
			Dain Bosworth Inc.
			A. G. Edwards and Sons Inc.
			McDonald and Company Securities Inc.
			Oppenheimer and Co. Inc.
			Piper, Jaffray and Hopwood Inc.
			Prescott Ball and Turben Inc.
			The Robinson-Humphrey Company Inc.
			Thomson McKinnon Securities Inc.
			Bateman Eichler, Hill Richards Inc.
			Blunt Ellis and Loewi Inc.
			Butcher and Singer Inc.
			Cowen and Co.
			First Southwest Company
			Furman Selz Mager Dietz and Birney Inc.
			Janney Montgomery Scott Inc.
			Ladenburg, Thalmann and Co. Inc.
			C. J. Lawrence, Morgan Grenfell Inc.
			Morgan Keegan and Company Inc.
			Needham and Company Inc.
			Neuberger and Berman
			Parker/Hunter Inc.
			Stifel Nicolaus and Company Inc.
			Sutro and Co. Inc.
			Underwood, Neuhaus and Co. Inc.
	Canada	Scotia McLeod	Scotia McLeod
			Wood Gundy
			Burns Fry
			Merrill Lynch Canada
	Japan	Nomura Securities Co.	Nomura Securities Co.
			Daiwa Secrities Co.
			Nikko Securities Co.
			Yamaichi Securities Co.
	Europe	Swiss Bank Corporation Investment Banking Ltd. (SBCI)
	Germany		Deutsche Bank Capital Markets Limited
			Commerzbank Aktiengesellschaft
			Bayerische Hypotheken—und Wechsel—Bank Aktiengesellschaft
			DG BANK Deutsche Genossenschaftsbank
			Schweizerischer Bankverein (Deutschland) AG
			Dresdner Bank Aktiengesellschaft
			Bayerische Landesbank Girozentrale
			Berliner Handels—und Frankfurter Bank
			Deutsche Girozentrale—Deutsche Kommunalbank—Vereins—und Westbank Aktiengesellschaft
			Westdeutsche Landesbank Girozentrale

	Country	Overseas Financial Advisers	Overseas Underwriters
	France		Banque Paribas Capital Markets Limited
			Banque Indosuez
			Credit Commercial de France
			Societe Generale
			Banque de Gestion Privee-SIB
			Rothschild and Cie. Banque
			Banque Nationale de Paris
			C1-Alexanders Laing and Cruickshank
			Banque Stern-Groupe Societe de Banque Suisse
			Mediobanca-Banca di Credito Finanziario S.p.A.
	Italy		Banca Commerciale Italiana
			Credito Italiano
			Banca Popolare di Milano
			Nuovo Banco Ambrosiano
			Banca Nazionale del Lavoro
			Cassa di Risparmio delle Provincie Lombarde-CARIPLO
			Banca Nazionale dell 'Agricoltura
			Banco di Roma S.p.A.
			Instituto Bancario San Paola di Torino
			Credito Romagnolo S.p.A.
	Netherlands		Amsterdam-Rotterdam Bank NV
			Cooperatieve Centrale Raiffeisen-Boerenleen Bank BA
			SBCI Swiss Bank Corporation Investment banking NV
			Pierson, Heldring and Pierson NV
			Nederlandsche Middenstandsbank
	Switzerland and Leichtenstein		SBCI Swiss Bank Corporation Investment banking Ltd.
			Credit Suisse First Boston Limited
			Swiss Volksbank London Branch
			Julius Baer International Limited
			Compagnie de Banque et d'Investissements
			Leu Securities Limited
			Pictet International Ltd.
			BSI-Banca della Svizzera Italiana
			Hentsch et Cie
			Sarasin Investment Management Limited
			SG Warburg Soditic (Jersey) Limited
			Union Bank of Switzerland (Securities) Limited
			Banca del Gottardo
			HandelsBank NatWest (Overseas) Limited
			Lombard Odier International Underwriters SA
			Bank J. Vontobel and Co. AG
			Rothschild Bank AG
			Swiss Cantobank Securities Limited
	Other European countries		SBCI Swiss Bank Corporation Investment Banking Ltd.
			Creditanstalt—Bankverein
			Generale Bank
			Enskilda Securities, Skandinaviska
			Enskilda Ltd.
			Kansallis-Osake-Pankki
			Banco Hispano Americano SA