CBC-Led Consortium Is Said in Talks for Bain’s Hugel Stake (1)

A consortium led by private equity firm CBC Group is in advanced talks to acquire Bain Capital’s controlling stake in Seoul-listed cosmetic pharmaceutical company Hugel Inc., according to people familiar with the matter.

The investor group could include a South Korean investor, said the people, who asked not to be identified as the discussions are confidential. A Middle Eastern fund is also considering chipping in, one of the people said.

Bain is seeking as much as $2 billion from a disposal of its 44.4% stake in Hugel, Bloomberg News reported in May. The Boston-based private equity firm is ...