Three credible buyers have shown interest in buying the bankrupt Lehman Brothers’ UK arm in London.

The administrator Tony Lomas, at PricewaterhouseCoopers (PWC) for the Lehman Brothers International (Europe) informed that three parties were interested in buying investment business and equity trading arm, which had been employing 600 people. It covered activities pertaining to mergers, acquisition and corporate finance.

He acknowledged that all the offers were from credible and very different financial institutions and was hopeful of starting negotiations at the earliest.

Lomas added that Barclays which had decided to buy Lehman’s US investment banking operations could be opting for parts of the London activities. He added that other parts of Lehman’s business where buyers showed interest included real estate, broker dealer and asset management arm which totally employed 3,400 people.

Lomas also confirmed that he was securing $100m from Cargill group’s CarVal for paying staff salaries for September. This type of funding is known as “debtor-in-possession funding” or “dip financing”. This enables administrator to keep business intact for a sale.

Many of the employees were helping PWC with administration process particularly related to unwinding of massive trading on London Stock Exchange where Lehman still had billions outstanding.

Christian Meissner is heading Lehman in London following the sudden departure of Jeremy Isaacs few weeks ago.

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