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1/28/2013 8:56:36 AM
Permira Advisers LLP is among the private-equity firms considering the acquisition of a stake in Israeli medical-device maker Given Imaging Ltd. (GIVN), according to a person with direct knowledge of the talks. Discount Investment Corp. (DISI) is in talks to sell all or part of its 45.5 percent stake in Given, said the person, who asked not to be named because the discussions are private. Given, the Yokneam-based maker of a pill-sized camera to diagnose gastrointestinal illnesses, this month abandoned a plan to find a buyer for the whole company and said Discount wanted to sell its stake in one block. Given gained 3.9 percent to 61.40 shekels at 4 p.m. in Tel Aviv, giving the company a market value of 1.9 billion shekels ($510 million). The stock gained as much as 7.6 percent, the biggest intraday advance since Oct. 21. Discount, which holds Given shares directly and indirectly, climbed 2.2 percent to 12.90 shekels. Tycoon Nochi Danknerās IDB Holding Corp., which indirectly controls Discount, has been selling assets including a stake in Clal Industries & Investments Ltd. as the company seeks to avoid default on its debt. A spokeswoman for London-based Permira declined to comment on Given, as did a spokeswoman for Tel Aviv-based Discount.
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