Baring Private Equity Asia is in exclusive discussions to acquire Lumenis Ltd. from fellow buyout firm XIO Group in a deal that could value the medical laser business at more than $1 billion, Bloomberg News reported, citing people familiar with the matter.
Talks between the two parties are still in progress, and no agreements have been finalized, sources said.
Should the negotiations with Baring fail, a consortium consisting of CVC Capital Partners Ltd. and FountainVest Partners is still interested in the business, one of the sources said.
Baring and XIO representatives did not comment on the matter, while CVC and FountainVest officials could not be reached immediately by Bloomberg News for comment.
