CSFB and Crédit Lyonnais win Snecma mandate

Credit Suisse First Boston (CSFB) and Crédit Lyonnais will run the initial public offering of Snecma, the French aero-engine manufacturer, in a deal that could be worth about €1.5bn ($1.3bn).

The French government, which is expected to sell about 25% of the company in the deal, appointed the two banks after a hotly contested pitch.

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