FT: Lehman to spin off VC business
The venture capital unit sale will yield cash for creditors who may be paid partly in stock of other Lehman businesses because its illiquid assets, including its proprietary investments and real estate, could take years to sell at anything other than fire-sale prices.
Bryan Marsal, co-head of the firm managing Lehman’s liquidation, told the Financial Times this month that the bank might separate its illiquid assets into two standalone companies that could become publicly listed. Under that plan, which is still being considered, creditors would receive stock in those companies until their assets could be sold as the market improves, eventually yielding cash.
Outside the US, Lehman’s entities in Asia and Europe are also battling over how to liquidate assets within their own jurisdictions and settle intercompany transfers that shuttled cash between the bank’s regional operations. Lehman’s US operation maintains that it is owed some $80bn in loans it made to units in the UK, Europe, Asia and elsewhere.
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|Autor (Datum des Eintrages):||manyfulddick (27.02.09 01:05:57)|
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