Bain Capital is buying a 43.66% stake in South Korea’s Echo Marketing, which owns local activewear brand Andar, from its founder and another shareholder for 216.6 billion won ($150.14 million), Echo said in a regulatory filing on Friday.
The U.S. investment firm is also making a tender offer for the remaining roughly 56.4% stake in Echo Marketing, the Korean company said, at the same price of 16,000 won per share.
Shares of Echo Marketing jumped 30% to 13,910 won on Friday after the news of the deal.
Source: Reuters.com