Temasek Sells Some Manipal Stake To Mubadala, Brunei
Posted on 09/29/2023
Singapore’s SWF Temasek Holdings is inching out of Manipal Hospitals through its Sheares Health unit. Sheares wants to sell just under 10% of assets. However, Temasek still plans to retain 50% of shares, for the time being. Abu Dhabi’s Mubadala Investment Company will buy the stake, with partner Brunei Investment Agency.
Temasek’s plans for Manipal Hospitals was announced earlier in the year. The recent stake in Temasek’s Manipal Health was purchased for US$ 2 billion. Temasek’s Sheares Health unit already held 18% of Manipal, but has purchased 41% more from other investors and parties. Indian medical doctor Ranjan Pai will owns 30%, and TPG owns 11% ownership. Manipal Health promises “world class healthcare services and treatment at a reasonable cost.” Manipal Health serves 5 million patients a year.
