Report: Lehman IM Sale Hits Snag

NEW YORK (Reuters) – The plan to sell Lehman Brothers Holdings Inc’s investment-management unit has been delayed due to wrangling over how to run the business and pay fund managers, Bloomberg reported on Wednesday, citing people familiar with the talks.

A Lehman spokesman was not immediately available for comment.

Lehman, now bankrupt, wanted to announce the sale to Bain Capital LLC and Hellman & Friedman LLC by last week, the news agency reported the people as saying.

The report listed as sticking points the new company’s management structure, compensation at the fund unit, and valuing Lehman’s private-equity assets.

(Reporting by Jonathan Spicer; Editing by Gary Hill