LIG Nex 1

Korean investors buy 49% stake in LIG defence subsidiary

LIG Corp raises $388 million from the sale of a minority stake in LIG Nex 1 to a group of Korean investors.
<div style="text-align: left;"> A ship-launched anti-ship cruise missile system made by LIG Nex1 </div>
<div style="text-align: left;"> A ship-launched anti-ship cruise missile system made by LIG Nex1 </div>
February 25, 2013

LIG Corp agreed last week to sell a 49% stake in LIG Nex1 to a group of Korean investors. The troubled company will use the proceeds to repay loans raised to meet the cost of put options exercised by investors in LIG Engineering & Construction in 2011.

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