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HK's Biostime to buy Australian vitamin maker Swisse for over US$1b: media

[SYDNEY] Hong Kong-listed dietary supplements company Biostime International Holdings has agreed to buy Australian vitamin maker Swisse Wellness for more than A$1.5 billion (S$1.5 billion), Australian media reported on Thursday.

The company beat Shanghai Pharmaceuticals Holding and Chinese private equity firm Hony Capital in a sale managed by Goldman Sachs Group Inc, the Australian newspaper and Fairfax Media said in reports, citing unnamed sources.

Swisse and Goldman Sachs were not immediately available for comment. Biostime issued a statement saying it had requested a trading halt for its shares, without giving an explanation.

REUTERS