Royal Bank of Scotland PLC (RBS) has hired eight more banks to
work on the initial public offering of its Direct Line insurance
arm planned for the fourth quarter of this year, Reuters reported
Friday citing two people familiar with the matter as saying.
The public offering, to sell a minority stake in the unit, is
being managed by Goldman Sachs Group Inc. (GS), Morgan Stanley (MS)
and UBS AG (UBS), the report said.
The eight additional banks tapped to play junior roles in the
IPO are Commerzbank AG (CRZBY), Bank of America Merrill Lynch, KBW
Inc. (KBW), BNP Paribas SA (BNP.FR), Citigroup Inc. (C), HSBC
Holdings PLC (HBC), Investec PLC (IVTJY) and Royal Bank of Canada
(RY), the people told Reuters.
RBS declined to comment to Reuters.
Full story at
http://www.reuters.com/article/2012/07/13/us-directline-ipo-idUSBRE86C12720120713
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