The Lehman Brothers estate is pushing ahead with plans to sell or list apartment company Archstone, which Lehman took private for $22bn near the zenith of the real estate boom, even as market ructions complicate discussions about how to proceed with Bank of America and Barclays, owners of sizeable stakes.
People familiar with the matter said the banks were working on documents for an initial public offering, which could be filed by the end of the month. JPMorgan Chase has been retained to assist with a possible float.
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