US investment bank Lehman Brothers intends to spin off $25-30bn in commercial real estate assets in the first quarter of 2009. The plan is part of a 'strategic restructuring' at the financial group which predicted net losses of close to $4bn in the third quarter ending on 31 August. The news of the real estate divestment came as talks stalled with Korea Development Bank about becoming a strategic investor in Lehman Brothers.
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