Lehman Brothers in Grange Securities buyout


Lehman Brothers has bought Australian investment bank Grange Securities. Lehman Brothers says it will not disclose the terms of the deal, although it is thought to be close to US$100 million dollars. Grange Securities is one of the largest issuers of synthetic collateralised debt obligations (CDOs) in the Australian retail structured products markets, in which one of the most successful products. One the bank's most successful structured products was the Flinders floating-rate notes, which were

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