Lehman Eyes Sale Of Neuberger Berman Interests

Law360, New York (November 9, 2011, 10:10 PM EST) -- Lehman Brothers Holdings Inc. has plans to sell its interests in Neuberger Berman Group LLC in a proposed deal that could push its overall gains from its investment in the asset manager to $1.5 billion, the collapsed investment bank said Wednesday.

In a filing in New York bankruptcy court, Lehman said it expects to receive $845 million on closing the proposed transaction and that future repurchases of equity could bring in an additional $300 million to $450 million.

The agreement, which is subject to court approval,...
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