Avenue Capital nears deal for China medical firm -sources

HONG KONG Oct 20 (Reuters) - Avenue Capital is in the last stage of talks to buy a Chinese medicial equipment company now backed by Citigroup Inc (C.N) in a deal worth over $100 million, sources familiar with the situation said on Tuesday.

The exclusive talks for Landwind between Avenue Capital, one of the world's largest hedge funds, and Citi Venture Capital International (CVCI) came after Bain Capital and other private equity funds dropped their bids, said the sources.

The sources declined to be identified as the bidding process is confidential. Landwind and CVCI declined to comment. Avenue Capital was not available for comment, despite repeated inquries. (Reporting by George Chen; Editing by Chris Lewis)