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CITIC PE ends talks to buy rest of Biosensors International

19 Aug 2014

Biosensors InternationalThe private equity arm of Chinese state-backed investment house CITIC Group has scrapped plans for a takeover of Biosensors International.

CITIC Private Equity has ended talks to buy the 78 per cent of Biosensors it does not already own according to a statement from the company.

Reports that CITIC was considering a bid to gain full control emerged in February following a dramatic slide in the company’s value.

Hony Capital holds a stake of about 16 per cent in the company following an initial stake purchase in 2010.

Biosensors makes medical devices such as stents, which are used to prop open blocked arteries.

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