Goldman Sachs and conglomerate SK Holdings plan to jointly invest 50 billion won ($43.3 million) in South Korean cold chain logistics operator Belstar Superfreeze, according to a report by The Investor.
Initially, Belstar Superfreeze will receive 25 billion won ($21.6 million) funding each from Goldman Sachs and SK Group. Both parties will invest the remaining amount, 12.5 billion won ($10.8 million) each, within a year.
The company will use the funds for the construction of a new cold chain logistics centre at Songdo New Port in Incheon.
Belstar Superfreeze is controlled by US-based investment house EMP Belstar, which focuses on structured credit and private debt investments targeting energy, logistics, and infrastructure opportunities. EMP Belstar has offices in New York City, Washington, D.C., and Seoul.