CITIC In Talks To Acquire Singapore’s Biosensors International

China's state-owned CITIC Group, a private equity investor, has made a takeover bid for Biosensors International, a Singapore company that makes medical devices for interventional cardiology and critical care procedures. CITIC already owns 21.7% of Biosensors. In 2013, CITIC's CB Medical subsidiary paid $312 million to acquire the stake from Shandong Weigao Group Medical Polymer. That transaction valued Biosensors at more than $1.5 billion, but its current market cap is $824 million.

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