Clarification On Amresco Talks.NEW YORK--(BUSINESS WIRE)--Oct. 13, 1999-- In an October 12 dispatch, Bloomberg reported that "It may take several months before (Lend Lease Corporation This article is about the company. For the World War II program, see Lend-Lease. Lend Lease Corporation Limited is an Australian-based multinational property management and investment company. ) reaches agreement to buy three businesses from Dallas-based Amresco Inc." To clarify the Bloomberg report, Lend Lease Real Estate Investments, Inc., the U.S. subsidiary of Lend Lease Corporation (ASX ASX See: Australian Stock Exchange : LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ), announced today that negotiations are moving forward to reach a definitive agreement with Amresco, regarding a possible purchase of Amresco's asset management, commercial mortgage banking and servicing, and real estate structured finance businesses. A definitive agreement could be reached soon, although closing of such a transaction may take several months. Given the stage of the negotiations, there is still no assurance that an agreement will be reached. Lend Lease Real Estate Investments is a leading U.S. institutional manager of real estate and mortgages. When the company completes its previously announced acquisition of Boston Financial Group later this month, it will have $30.5 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. for pension funds, insurance companies, endowments and foundations as well as international and private investors. Lend Lease Corporation is an international real estate and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. group, operating on five continents with total funds under management and administration of $55.6 billion. Lend Lease Corporation's market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. is $6 billion. |
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