AIG and the U.S. Department of Treasury have appointed four banks to manage the sale of the insurer’s shares, The Wall Street Journal reports. JP Morgan Chase, Goldman Sachs, Bank of America and Deutsche Bank have been named to manage the sale of the government’s 92% stake in AIG.
Morgan Stanley, which advised the Federal Reserve Bank of New York throughout 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 of AIA Group’s offering.
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