LDH Corp., the Internet company that paid ¥30.6 billion in dividends this year to Morgan Stanley and other investors, plans to sell its Livedoor Co. Web portal unit, sources said.
LDH plans to hire Citigroup Inc. to advise on the sale of Livedoor, including its blog and online matchmaking sites, according to the sources, who requested anonymity because the talks are private. The company will begin an auction for Livedoor as early as next month, they said.
The sale may free up cash for additional dividends to investors, including Morgan Stanley, LDH's biggest shareholder, Goldman Sachs Group Inc. and Deutsche Bank AG. The three companies received a combined ¥30.6 billion of dividends from LDH this year.