Fri, Apr 13 12:24 PM EDT
FRANKFURT, April 13 (Reuters) - Private equity company Lone Star agreed to buy the former Lehman Brothers "Excalibur" portfolio from Germany's Bundesbank, which is managing the sale of securities that the defaulted U.S. investment bank had posted as collateral for funding in 2008.
The Bundesbank said on Friday it had sold Excalibur to Lone Star for an undisclosed sum. The vehicle has a nominal value of 1.4 billion euros ($1.8 billion), compared with 2.16 billion originally. The deal is due to close at the end of the month.
Excalibur is the largest position in a portfolio of assets which Lehman had posted as collateral at the Bundesbank for taking 8.5 billion euros from the European Central Bank in 2008. Lehman defaulted in September 2008.
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