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Baring in Talks to Buy XIO's Lumenis for Over $1 Billion

  • Firm enters exclusive talks to buy medical laser business
  • CVC, FountainVest consortium remains interested in asset

Baring Private Equity Asia is in exclusive talks to buy XIO Group’s medical laser business Lumenis Ltd., potentially bringing a close to a nearly two-year sale process for the asset, people familiar with the matter said.

A deal could value Lumenis at more than $1 billion, the people said, asking not to be identified because the discussions are private. Talks are ongoing, and no final agreements have been reached, the people said.