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A steering committee representing global banks and insurers is close to hiring Blackstone Group LP (BX) and two law firms to advise it on debt-swap talks with Greece, according to two people familiar with the matter.
A formal engagement with Blackstone, White & Case LLP and Allen & Overy LLP may be completed as early as this week, said one of the people, who declined to be identified because talks are private. The steering committee was formed last month by a private creditor-investor group and is conducting negotiations on the voluntary debt swap with Greek and European authorities.