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Lazard still evaluating strategic alternatives

NEW YORK (AP) -- Lazard Capital Markets said Thursday that it "continues to evaluate strategic alternatives," a process that the financial advisory firm initiated earlier this year.

The New York-based financial advisory firm said it is reviewing its options in order to maximize value for its owners.

Lazard is owned by the former partners of Lazard Ltd. About 73 percent of the owners are either deceased or have retired from Lazard, said Scott Sunshine, a spokesman for the company. The remaining owners and heirs are looking to sell the business and began the review process around May.

Lazard said no decision has been reached and it continues to serve clients and operate as normal.