S.Korea's Doosan says mulling buy of Novaled AG

SEOUL, March 20 Wed Mar 20, 2013 4:39am EDT

SEOUL, March 20 (Reuters) - South Korea's Doosan Co Ltd is considering buying German high-tech lighting company Novaled AG, the firm said on Wednesday.

South Korean newswire Money Today earlier reported that Doosan was close to acquiring 100 percent of the Dresden-based company for an estimated 300-400 billion won ($270-360 million), citing an unnamed source attached to the deal.

Novaled, which is backed by venture capital groups like Samsung Venture Investment, had filed with U.S. regulators for an initial public offering last year.

($1 = 1111.4000 Korean won) (Reporting by Joyce Lee; Editing by Daniel Magnowski)