18 hours ago
Brushing off bank worries, HNA taps Goldman for unit Pactera's IPO: sources
HNA Group, the Chinese airline-to-banking conglomerate, has tapped investment bank Goldman Sachs (GS.N) to list Pactera, the Beijing-based IT outsourcing firm it bought from private equity firm Blackstone, sources familiar with the matter said. The mandate for the U.S. initial public offering of Pactera, bought for $675 million in cash last year, is not yet official, the sources said, but the listing could come early next year. News of the appointment of Goldman Sachs, a Wall Street stalwart, is a boost for HNA, even if the mandate is not official.