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Blackstone plans IPO of U.S. benefits manager Alight: Reuters

2018-12-06 06:58    Investing

Blackstone plans IPO of U.S. benefits manager Alight: Reuters Stock News

© Reuters. Blackstone plans IPO of U.S. benefits manager Alight: Reuters
  • Blackstone Group (NYSE:BX) is preparing an initial public offering of Alight Solutions, a provider of healthcare and retirement benefits services that could be valued at more than $7B including debt, Reuters reports, citing people familiar with the matter.
  • The IPO could raise $500M-$750M, said one source, and could be launched in H1 2019, according to four people.
  • BX would also consider acquisition offers for Alight.
  • Blackstone bought Alight from insurance company Aon (NYSE:AON) Plc almost two years ago.
  • Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), and Morgan Stanley (NYSE:MS) have been hired to underwrite the offering.
  • Previously: Blackstone's Schwarzman sees `reasonably good' 2019 (Dec. 5)
  • Previously: Reuters: Blackstone looking to sell Gulf of Mexico oil exploration venture (Nov. 7)
  • Now read: 3 Falling Knives Catching My Attention


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