AMRESCO Clarifies Bloomberg Release of September 21, 1999
DALLAS, Sept. 22 /PRNewswire/ -- The Bloomberg article may have left the impression that AMRESCO's (Nasdaq: AMMB) discussions with Lend Lease, if they resulted in a transaction, would leave AMRESCO with only its residential mortgage banking and home equity lending units. The discussions with Lend Lease involve only the asset management, commercial mortgage banking and servicing (Holliday Fenoglio Fowler, AMRESCO Services and AMRESCO Capital) and real estate structured finance business platforms. The discussions with Lend Lease do not involve AMRESCO's core commercial finance businesses which include franchise lending, small business lending, SBA lending, lending to homebuilders and telecommunications lending. These commercial finance businesses comprise a significant part of AMRESCO's overall business and will not be included in any transaction with Lend Lease. Further, the discussions with Lend Lease do not contemplate the acquisition of the asset management, real estate structured finance or other financial assets held by AMRESCO. The discussions with Lend Lease are preliminary and there can be no assurance that any transaction will result from these discussions.
AMRESCO does not intend to make any further announcements concerning its discussions with Lend Lease or related matters until a definitive agreement is executed or discussions terminated. |
