Lehman nears plan for real estate assets: report
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Sat, 30 Aug 2008 01:58:32 GMT |
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NEW YORK (Reuters) - Lehman Brothers Holdings Inc. has settled on a structure that will allow it to offload billions of dollars in real-estate loans from its books, according to the on-line edition of the Wall Street Journal.The firm is still working out the final details and it isn't clear when a plan will be unveiled, the Journal reported, citing the difficulty of finding financing for a spinoff or sale of these assets.Lehman has also been looking for buyers for its asset management arm Neuberger Berman.According to the Journal, Lehman has created a so-called good bank/bad bank structure for the real estate assets, which would likely involve a spinoff of the holdings to shareholders as well as an investment by outside investors.A Lehman spokesperson could be immediately reached for comment.(Reporting by Phil Wahba; Editing by Gary Hill)
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