China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
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)
