Bloomberg News reports that the Wall Street investment bank wasn’t invited so as 'to avoid speculation about Goldman Sachs’s role', the Finance Ministry said in a reply to e-mailed questions on Wednesday.
Denmark, which holds 59% of Dong, revealed its IPO road map for the utility in September. The sale, which Sydbank has estimated may value Dong as high as $10bn, is set to be among the biggest in Denmark’s history. Goldman holds almost one-fifth of Dong, which is also owned by Danish pension funds ATP and PFA, and a group of smaller shareholders.
A committee overseeing the IPO said on Wednesday it selected JPMorgan, Morgan Stanley and Nordea as joint global coordinators. Citigroup, Danske Bank and UBS were selected as joint bookrunners.
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