Bain to invest $816m on S Korean beauty products maker Hugel

Bain to invest $816m on S Korean beauty products maker Hugel

Bain Capital agreed to invest about $816 million in Hugel Inc. to gain control of the South Korea-based maker of beauty products, including the botox anti-wrinkle treatment.

Bain will pay 354.7 billion won ($312 million) for 985,217 new shares in Hugel and 100 billion won in convertible bonds, according to regulatory filings and an emailed statement from Hugel. The new stock is priced at about 360,000 won a share, 1.1 percent less than the April 14 closing price. Bain, which is also in talks to buy Hugel’s largest shareholder Tongyang HC for 472.8 billion won, will own 45.3 percent of Hugel if the transactions are completed as planned.

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