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Singapore fund Temasek takes over Manipal in $2billion+ deal - Times of India
In the largest deal in the Indian healthcare space, Singapore's sovereign wealth fund Temasek Holdings has bought a majority stake in Bengaluru-based Manipal Health Enterprises for over $2 billion. The transaction is awaiting the competition commission's approval. After the transaction, Dr Ranjan Pai and his family's stake will drop to 30% from 52%, while existing investor TPG's shareholding will fall to 11% from 22%, the sources said. Two years ago, National Investment and Infrastructure Fund (NIIFL) had invested Rs 2,100 crore in Manipal Hospitals, picking up a 9% stake. He's done some aggressive acquisitions, and he's infused external capital. While Manipal University in Mangaluru remains the flagship project, the group is now building a massive campus in Bengaluru that also hosts the popular Srishti Institute of Art Design and Technology which Manipal acquired in 2020. Source -https://timesofindia.indiatimes.com/business/international-business/singapore-fund-temasek-takes-over-manipal-in-2billion-deal/articleshow/99329342.cms?from=mdr
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