Reuters: Deals: South Korea missile maker to launch $400 million stake sale: sources

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South Korea missile maker to launch $400 million stake sale: sources Mar 15th 2012, 04:19 HONG KONG/SEOUL | Thu Mar 15, 2012 12:19am EDT HONG KONG/SEOUL (Reuters) - South Korea defence company LIG Nex1, which makes missiles and develops weapons systems, is selling an up to 49 percent stake that could raise as much as $400 million, according to sources familiar with the matter. LIG Nex1, which makes anti-submarine and cruise missiles as well as weapons systems, has hired Citigroup Inc (C.N) to sell the stake in an auction which that target private equity firms and strategic buyers, the sources told Reuters. The sources were not authorized to talk to the media. Citi and LIG Nex1 declined comment. (Reporting by Stephen Aldred in HONG KONG and Ju-min Park in SEOUL; Editing by Chris Lewis)

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