Lehman hopes to announce asset management sale in Oct
Published: 10 Sep 2008 20:57:38 PSTNEW YORK, Sept 10 - Lehman Brothers Holdings Inc hopes to announce the sale of a stake in its asset management business in October, a person familiar with the matter said on Wednesday.
Lehman plans to retain 45 percent to 49 percent of the business, the source said. Bids are due Friday, he added.
Lehman said earlier on Wednesday that it intends to sell a majority interest in part of its investment management unit, including the asset management, private equty and wealth management businesses.
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