AIG Auditions Sachs, Citi to Manage IPO
NEW YORK (
) --
American International Group
(AIG) - Get Report
has placed an open call for banks to manage the initial public offering of
American Life Insurance
.
This week AIG is interviewing banks to manage the deal, which could fetch as much as $5 billion, Reuters reported.
Goldman Sachs
(GS) - Get Report
,
Citigroup
(C) - Get Report
,
Credit Suisse
,
UBS AG
and
Deutsche Bank
are reportedly among the names to be interviewed for the job.
Morgan Stanley (MS) - Get Report has already been guaranteed a role in any IPO
conducted by AIG by the Federal Reserve Bank of New York.
AIG plans to list American Life Insurance on the New York Stock Exchange.
There have been rumors circulating that
AIG is in talks with MetLife (MET) - Get Report
about a deal for all, or parts of, Alico.
The divestiture of Alico is part of AIG's efforts to repay its $85 billion bailout from the government.
Meanwhile, shares of the insurer plunged more than 9% in afternoon trading to $36.27 after it was
.
-- Reported by Jeanine Poggi in New York
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