UK insurer Saga planning intention to float next week for $5 bln IPO - sources
LONDON, April 23 (Reuters) - British insurance company Saga is planning to announce its intention to float next week in a London stock market debut that could value the company at 3 billion pounds ($5.1 billion), two sources familiar with the matter said on Wednesday.
Saga, which is owned by Permira, Charterhouse and CVC, would raise at least 750 million pounds assuming the London stock exchange's minimum free float of 25 percent, one of the sources said.
Bank of America Merrill Lynch and Goldman Sachs will lead the deal, with Credit Suisse and Citi as joint bookrunners, the other source said.
"We are preparing ourselves for a potential IPO," said Paul Green, director of communications at the over-50s insurance firm. CVC, Charterhouse and the banks were not immediately available to comment. Permira declined to comment. ($1 = 0.5944 British Pounds) (Reporting by Freya Berry and Anjuli Davies; editing by Clare Hutchison)
