STIC-led group preferred bidder for Korean weapons manufacturer
A consortium formed by South Korean private equity firm STIC Investments and brokerage Hana Daetoo Securities has been selected as the preferred bidder for a stake in South Korea's LIG Nex1. The weapons manufacturer is offloading a 49% interest worth around $440 million.
The firms look set to pay KRW400-500 billion ($354-$443 million) for the stake, according to a source. Their offer includes conditions relating to a possible IPO by LIG Nex1. Previous estimations by local...
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