Deals Rumor Mill: Saudi Aramco, Cigna, Avaya

By Benjamin Horney (August 20, 2019, 6:01 PM EDT) -- State-run oil giant Saudi Aramco has selected Lazard Ltd. and Moelis & Co. to advise on its planned initial public offering, which will aim to raise as much as $100 billion, according to a Tuesday report from Bloomberg. The news comes after Reuters reported on Monday that Saudi Aramco had requested that banks make pitches for possible roles in the IPO, which is expected to take place between 2020 and early 2021. The planned offering has been in the works for awhile but was postponed, and last August Saudi Arabia's energy minister reiterated the kingdom's plan to pursue the IPO....

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