Singapore's Temasek acquires Manipal Hospitals for $2 billion: Report

Singapore government-owned fund Temasek Holdings has reportedly acquired an additional 41% stake in Bengaluru-based Manipal Health Enterprises for about Rs 16,500 crore, valuing the company at around Rs 40,000 crore.

According to the media reports, TPG, an existing backer in the company, will sell 11% of its 21% stake to the buyer.

However, there is no official confirmation or announcement from Temasek and Manipal Hospitals regarding this development.

The transaction tops the list of multi-crore deals in the Indian healthcare sector, including the Rs 9,100 crore stake sale of 27% stake by KKR in Max Healthcare last year and Malaysia-based IHH Healthcare's 31.17% buy-in Fortis for Rs 4,000 crore in November 2018.

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