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AIG Appoints Four Banks For Offering

AIG and the U.S. Department of Treasury have appointed four banks to manage the sale of the insurer’s shares.

    AIGand the U.S.Department of Treasuryhave appointed four banks to manage the sale of the insurer’s shares,The Wall Street Journalreports.JP Morgan Chase,Goldman Sachs,Bank of AmericaandDeutsche Bankhave been named to manage the sale of the government’s 92% stake in AIG.

    Morgan Stanley, which advised theFederal Reserve Bank of New Yorkthroughout the AIG bailout, is expected to get a role in the AIG sales later on. JP Morgan and BofA previously arranged new unsecured credit lines for AIG, while Goldman was a lead underwriter ofAIA Group’s offering.

    Click here for the story fromThe Wall Street Journal.

    Click here for additional coverage fromReuters.

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