Lehman asset sale in 'next few days'
Lehman Brothers administrators PwC said they hope to seal the sale of the bankrupt bank's asset management and corporate finance businesses in the next few days and "create certainty for all involved".
Dan Schwarzmann, a partner at PwC and a chief administrator to Lehman, said today: “We are in discussions with interested parties to sell the Lehman Brothers asset management and corporate finance businesses."
He added that it was the administrators duty to keep each team together so as to maximise value for creditors.
He said: "We are in discussions with potential partners at present and our aim is to complete a deal in the next few days so as to create certainty for all involved.”
Private equity firms Clayton, Dubilier & Rice, Hellman & Friedman and Bain Capital are all reported to be in negotiations to the buy Neuberger Berman, Lehman Brothers’ US wealth management company.
-- write to Matt Turner at mturner@efinancialnews.com
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