Private Equity Deals & Transactions

Citic to take Singaporean medical device maker private

Citic currently owns just under 20 percent of the company, and the acquisition would see it acquire the remaining stock and de-list the company.

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Chinese private equity firm Citic is to acquire Singapore-listed medical device maker Biosensors International Group in a deal worth around S$1.1 billion ($770m; £511m), Private Healthcare Investor reports.

In a statement to the Singapore Stock Exchange, Citic said it would pay S$0.84 per share for Biosensors, having twice increased its offer for the company. 

The final agreed price represented a 23.5 percent premium over its trading price on 23 October when the first offer of S$0.815 per share was made. Biosensors was trading as high as S$1.40 per share in early 2013 but fell to a low of under $0.50 per share late last year.

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