Bain Capital to invest in 2.5 trillion won Cheongna business complex project

Bain Capital is planning to invest in the 2.5 trillion won Cheongna International Business Complex development project as its first real estate financing deal in project South Korea.

The Korea Land and Housing Corporation, the project's lead developer, will select the preferred bidder within this month.

As a foreign direct investor, Bain Capital's paid-up capital must be at least 5 percent of the total investment with its payment in cash constituting at least 30 percent of the paid capital.

EMP Belstar, AmWest Funding, and UAE and Chinese UAE investors are also interested in joining the project as foreign direct investors.

Bain Capital had earlier acquired Botox manufacturer Hugel for 930 billion won and cosmetics manufacturer Carver Korea for 430 billion won while investing 380 billion won in CJ Food America, and 150 billion won in English education company ST Unitas.

Three years ago, Bain Capital worked with SK Hynix on the latter's taking over of Toshiba Memo.