France's privatisation of Crédit Lyonnais has been launched to an enthusiastic initial response, with the government expected to raise between Ffr41bn and Ffr48bn from the sale of shares at an indicated price range of Eu22.5-Eu26.2. The deal will close at the end of the first week in July, marking the end of a dismal episode in the bank's history. Joining lead manager Crédit Lyonnais are joint lead managers ABN Amro Rothschild and Schroders, with Salomon Salomon Smith Barney as senior co-lead manager.
June 18, 1999