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Mubadala is in discussions to buy a stake of less than 10% in Manipal Hospitals in India. If successful, this would be the Abu Dhabi sovereign fund’s first investment in the expanding Indian healthcare sector, reported Reuters.

According to Reuters news report, the fund is in talks with Singapore’s Temasek, which spent $2 billion in April to increase its share in Manipal from 18% to 59% in the country’s largest healthcare sector acquisition.

Two of the sources told Reuters that the negotiations to buy the tiny stake from Temasek are taking place at the same $5 billion valuation as the April sale, which suggests a value of up to $500 million for the Mubadala-Temasek stake deal.

“Temasek said it does not comment on market speculation, while Mubadala declined to comment. Manipal did not respond to queries. Reuters is the first to report the talks,” said Reuters in its report. 

(more to come)

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Updated: 28 Sep 2023, 04:31 PM IST


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