UK insurer Saga planning intention to float next week for $5 bln IPO - sources

LONDON, April 23 (Reuters) - British insurance company Saga is planning to announce its intention to float next week in a London stock market debut that could value the company at 3 billion pounds ($5.1 billion), two sources familiar with the matter said on Wednesday.

Saga, which is owned by Permira, Charterhouse and CVC (Taiwan OTC: 4744.TWO - news) , would raise at least 750 million pounds assuming the London stock exchange (Other OTC: LDNXF - news) 's minimum free float of 25 percent, one of the sources said.

Bank of America Merrill Lynch and Goldman Sachs (NYSE: GS-PB - news) will lead the deal, with Credit Suisse (NYSE: CS - news) and Citi as joint bookrunners, the other source said.

"We are preparing ourselves for a potential IPO," said Paul Green (Irish: GN1.IR - news) , director of communications at the over-50s insurance firm. CVC, Charterhouse and the banks were not immediately available to comment. Permira declined to comment. ($1 = 0.5944 British Pounds) (Reporting by Freya Berry and Anjuli Davies; editing by Clare Hutchison)