Lehman, Deutsche Bank Plan $500M Invest In Unitech SPV

Lehman, Deutsche Bank Plan $500M Invest In Unitech SPV -Report

Last Update: 3/23/2008 11:11:12 PM

BANGALORE (Dow Jones)–Lehman Brothers Holdings Inc. (LEH) and Deutsche Bank AG
(DB) are set to make a combined investment of $500 million in a special purpose
vehicle floated by Indian real estate developer Unitech Ltd. (507878.BY), the
Economic Times reported, citing a person close to the development.

The two companies are in advanced talks with Unitech to pick up a minority stake
in the special purpose vehicle formed to carry out two commercial projects in
Mumbai, the report said.

The report, however, did not specify the size of the minority stake.

The deal is likely to be closed in the next three weeks, it added.

Newspaper Web site: http://www.economictimes.com

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