HONG KONG Feb 19 CITIC Private Equity Funds
Management has held talks on its stake in Biosensors
International Group Limited, the medical equipment
maker said on Wednesday following a report that CITIC was
considering a full buyout of the company.
Bloomberg reported on Tuesday that the CITIC Group unit was
planning to take full control and has held talks with banks
about financing a buyout.
China's CITIC bought its 21.7 percent stake in
Singapore-listed Biosensors last November. The company, valued
at around S$1.8 billion ($1.4 billion) makes drug-eluting stents
and other medical devices. It has its headquarters in Morges,
Switzerland and manufacturing operations in Singapore.
The buyout firm has held "very preliminary discussions" to
explore options relating to its stake, but no decision has been
made to pursue any option, Biosensors said.
Biosensors' stock was down 1 percent on Wednesday at S$0.98
after ending 14 percent higher a day earlier on the Bloomberg
($1 = 1.2609 Singapore dollars)
(Reporting by Stephen Aldred; Editing by Edwina Gibbs)