1 Min Read
HONG KONG, Feb 19 (Reuters) - 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 report.
$1 = 1.2609 Singapore dollars Reporting by Stephen Aldred; Editing by Edwina Gibbs