Renewable Energy

U.S. Bain Capital to acquire stake in CJ CheilJedang's unit for $320 mln

Credit: REUTERS/KIM KYUNG-HOON

South Korean food giant CJ CheilJedang Corp said on Thursday that U.S. private equity fund Bain Capital had agreed to acquire a 27% stake its U.S. unit CJ Foods America for $320 million.

SEOUL, May 23 (Reuters) - South Korean food giant CJ CheilJedang Corp 097950.KS said on Thursday that U.S. private equity fund Bain Capital had agreed to acquire a 27% stake its U.S. unit CJ Foods America for $320 million.

Bain would become a financial investor for CJ's recent acquisition of U.S. frozen foods firm Schwan's Co for $1.84 billion, CJ said in a regulatory filing.

(Reporting by Hyunjoo Jin, Hayoung Choi; Editing by Stephen Coates)

((hayoung.choi@thomsonreuters.com; +82 2 3704 5643; Reuters Messaging: hayoung.choi.thomsonreuters.com@reuters.net))

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