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Biosensors names Evercore Asia as adviser for Citic takeover offer

An employee at Biosensors International packing transducers for hospitals.

THE independent directors of Biosensors International Group has appointed Evercore Asia (Singapore) to provide independent financial advice on a takeover offer by a unit of Citic Group.

Citic Private Equity Funds Management Co is offering 84 Singapore cents per share to privatise Biosensors, a maker of coronary stents and other medical devices. The offer price was at a 24 per cent premium to Citic's pre-deal price of about 68 Singapore cents.

Biosensors stock traded at 80 Singapore cents as at 9.45am on Friday.

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