One bidder left for Lehman Brothers, says PwC

PwC has cropped the shortlist of buyers for the solvent parts of Lehman
Brothers European business down to a single bidder.

PwC chose the unnamed bidder because it made assurances it was looking to
take on more staff, which could meaning some Lehman’s employees keeping their

A number of suitors were thought to have made advances, but PwC has now said
that only one party was still in the frame.

Joint administrator Dan Schwarzmann said: ‘We have now focused on one party
as they are interested in acquiring a wider team, which should result in a
better deal for staff and creditors of these businesses. Given the complexity of
Lehman Brothers, these negotiations are difficult, but I’m hoping to give
certainty to all involved as soon as possible.’

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