2 Sep
Lehman Brothers Looking to Sell $30 Billion in Distressed Assets
Posted in investing, market watch by | No Comments
Hot on the heels of Merril Lynch’s sale of $30.6 billion worth of collateralized debt obligations to Lone Star Funds for just $6.7 billion, Lehman Brothers is looking to sell $30 billion in distressed mortgage assets.
According to the August 1st Reuters article, Lehman brothers are hoping to find a domestic or foreign buyer, and will possibly provide funding for the sale. Additionally, they might have hired Lazard Ltd financial advisory and asset management firm to assist them in locating buyers.
Lehman Brothers and Merrill Lynch are part of trend here, one of Wall Street banks looking to unload their risk-laden mortgage-backed securities to those investors with enough boldness, patience, acumen, and cash to hold onto these distressed assets until they become sellable again.
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