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Bracco, Guerbet looking for partners for Bayer radiology bids-sources
December 7, 2016 / 11:34 AM / a year ago

Bracco, Guerbet looking for partners for Bayer radiology bids-sources

FRANKFURT, Dec 7 (Reuters) - Italy’s healthcare group Bracco is working on a potential bid for the radiology supplies unit that Germany’s Bayer AG is looking to sell, people close to the matter said.

Bracco has mandated an investment bank to find a partner for a possible joint offer for the unit, which may be valued at more than 4 billion euros (4.3 billion), they said.

The asset has also caught the eye of French peer Guerbet , which has also been in talks with potential partners, the people said.

Bayer and Bracco declined to comment, while Guerbet was not immediately available for comment.

Separately, buyout group Avista remains the last bidder for Bayer’s dermatology unit, which sells medical skin creams, people familiar with that auction said.

Suitors such as India’s Lupin and investor BC Partners have dropped out of the race, the people said, cautioning that Bayer may opt against a sale altogether if its price expectations are not met. ($1 = 0.9328 euros) (Reporting by Arno Schuetze, Pamela Barbaglia, Sophie Sassard and Ludwig Burger)

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