Bain Capital buying South Korean activewear firm Echo Marketing in $344 million deal

SEOUL, Jan 2 (Reuters) – Bain Capital is buying a ‍43.66% stake in South Korea’s Echo Marketing, which owns local activewear brand Andar, ‌from its founder ‌and another shareholder for 216.6 billion won ($150.14 million), Echo said in a ​regulatory filing on Friday.

The U.S. investment ‍firm ​is also making ​a tender offer for ‍the remaining roughly 56.4% stake in Echo Marketing, the Korean company said, ‍at the same price of 16,000 won per share.

Shares ‍of ‍Echo Marketing ​jumped 30% to ​13,910 ⁠won on Friday ‌after the news of the deal.

($1 = 1,442.6800 won)

(Reporting by Joyce Lee; Editing by Muralikumar ⁠Anantharaman)