Ilooda Co. Ltd. (KOSDAQ:A164060), a South Korean medical aesthetic devices maker valued at around KRW 200 billion ($158 million), is likely to sell its management rights to US private equity firm Bain Capital LP, sources familiar with the situation said. Bain is in talks to close the deal with a 20% - 30% control premium per share, according to sources.

There is a chance that Bain will make a tender offer to acquire a controlling stake and delist Ilooda from the junior Kosdaq bourse, sources added. Through the deal, Bain will expand the businesses of medical aesthetic device manufacturer Classys Inc. that the PE firm acquired last year, sources said. The Boston-based investment manager is striving to increase its share in the global anti-aging products market.