Lehman nears plan for real estate assets: report
NEW YORK (Reuters) - Lehman Brothers Holdings Inc. LEH.N 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)
© Thomson Reuters 2008 All rights reserved
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