May 23, 2019 / 12:30 AM / a month ago

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

SEOUL (Reuters) - 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.

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

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