Lehman Brothers Holdings has completed the sale of its Aurora Bank unit, which concludes "a process that successfully avoided a potentially costly government resolution process of Lehman's two banks and that will ultimately yield significant recovery value for the Lehman creditors," a release from the bank said.

Lehman's release added that after an "extensive marketing process" that started more than a year ago with Aurora, it decided to breakup its subsidiary's business lines and do an individual disposition of the unit's different asset portfolios via a series of sales.

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