Singapore's Temasek buys majority stake in Manipal Hospitals for $2 billion

Temasek Holdings has acquired a 59% stake in India's Manipal Health Enterprises for Rs 29,000 crore ($3.6bn), valuing the Indian hospital chain at the same amount, according to people with knowledge of the development. Temasek-owned Sheares Health initially held 18% of Manipal, with the additional 41% bought from existing investors and promoters. After the deal, existing Promoter Ranjan Pai & family's Manipal Health stake will be lowered to 30% while existing investor TPG's share is reduced.