Lehman Brothers Holdings Inc. to Sell $2.5 Billion of Claims against Lehman Brothers Inc.

NEW YORK--()--Lehman Brothers Holdings Inc. and certain of its controlled affiliates (“Lehman”) announced today that, following the conclusion of a “Dutch” auction process, they agreed to sell $2.5 billion of their remaining general unsecured claims (the “Claims”) against Lehman Brothers Inc. (“LBI”).

The Claims will be sold net of the 17% distribution received by Lehman from LBI earlier this week for 24.75% of their face value, yielding an aggregate purchase price of approximately $619 million.

The sale of the Claims is subject to certain closing conditions.

Lehman was represented by Weil, Gotshal & Manges LLP in connection with the auction.

Contacts

Media:
Lehman Brothers Holdings Inc.
Kimberly Macleod, 646-285-9215
kmacleod@lehmanholdings.com

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