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

|About: Bank of America Corporation (BAC)|By:, SA News Editor

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 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)

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