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The Government confirmed today (August 28) the appointment of UBS Investment Bank as its financial adviser on the proposed partial privatisation of the Airport Authority (AA), following a competitive selection exercise.

The Government selected UBS Investment Bank based on the technical and fee proposals submitted from a shortlist of firms. The financial adviser will work closely with the Government and AA, and will advise the Government on a wide range of issues including the structure of the proposed partial privatisation, and financial, regulatory and related matters.

The Financial Secretary announced early this month that the Government intended to partially privatise AA and would engage a financial adviser to assist in the process.

End/Thursday, August 28, 2003

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