Bayer explores possible sale of diabetes device unit - Bloomberg

(Reuters) - Germany-based drugmaker Bayer AG is considering the sale of its diabetes device business, Bloomberg reported, citing sources.

The unit, thought to be worth 1 billion to 2 billion euros (790 million to 1.6 billion pounds), might attract bids from private equity firms such as Cinven Ltd, EQT Partners AB and Triton Advisers Ltd, Bloomberg said, citing people familiar with the matter.

Credit Suisse Group AG is advising Bayer on the potential sale, Bloomberg reported the sources as saying.

Bayer, which also plans to list its plastics unit on the stock market, is interested in bidding for animal-health company Zoetis Inc, Bloomberg also reported.

Firms such as KKR & Co LP, Advent, Carlyle Group LP looked at the plastics business unit after Bayer announced plans to spin off the division through a stock market listing.

Bayer, which took over Merck & Co Inc's over-the- counter drug business in October, said it is considering further deals.

Bayer, Credit Suisse, Cinven, EQT and Triton could not be reached immediately for comments outside regular business hours.

(Reporting by Rishika Sadam in Bangalore. Editing by Andre Grenon)