The U.S.-based Evercore Partners Inc. has reportedly won a role to advise on the planned IPO of Saudi Aramco and will work alongside rival Moelis & Co. as a financial adviser. Aramco is also in the process of appointing investment banks to underwrite the IPO, the sources said, adding that Evercore’s CEO Ralph Schlosstein was personally involved in the discussions and will work on the deal. The firm and New York-based Moelis will help the Aramco pick underwriting banks, make decisions on potential listing venues and ensure the IPO goes smoothly.
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