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) 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: LLC), 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.
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