Lehman Bros may sell majority stake in investment arm
Published on Wed, Sep 10, 2008 at 20:37 | Source : CNBC-TV18
Updated at Thu, Sep 11, 2008 at 08:38
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Lehman Bros may sell majority stake in investment arm
Lehman Brothers has posted a third-quarter loss of USD 3.9 billion. The bank has said that it is in advanced talks to sell a majority stake in its investment management division. It will also spin off commercial real estate assets into a new, separate public company.
Lehman Brothershas said that it is in advanced talks to sell a majority stake in its investment management division. It will also spin off commercial real estate assets into a new, separate public company.
Chairman and Chief Executive Officer of lehman Brothers, Richard S. Fuld Junior said, "This is an extraordinary time for our industry, and one of the toughest periods in the firm's history. The strategic initiatives we announced today reflect our determination to fundamentally reposition Lehman Brothers"
