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UK Gartmore picks BofA Merrill Lynch, Morgan Stanley, UBS to handle IPO

Posted on: Fri, 20 Nov 2009 07:38:00 EST

Symbols: MS

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Nov 20, 2009 (AIRLINE INDUSTRY INFORMATION via COMTEX) --
MS | Quote | Chart | News | PowerRating -- 20 November 2009 - British fund firm Gartmore has mandated BofA Merrill
Lynch, Morgan Stanley (NYSE:MS) and UBS (SWF:UBSN) to promote its
listing on the London Stock Exchange, the company said today.

The banks will serve as joint global co-ordinators, joint book-runners
and joint sponsors of the initial public offering (IPO), aimed at
reducing the firm's debt to some GBP150m (USD248m/EUR166.7m).

The public offering is seen to be completed in mid-December.

Via the offering, Gartmore's largest stakeholder Hellman & Friedman
will cut its 50% holding in the firm, but will not leave it straight
away, a Gartmore spokeswoman said.

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