Temasek Buys Stake in Evonik and Healthcare Global Enterprises

Temasek HoldingsEvonik Industries AG, a German specialty chemical manufacturer, sold a block of shares to Temasek Holdings in a 4.6% private placement deal. Temasek Holdings will pay around €600 million for the stake. Evonik is preparing to be a listed company on the Frankfurt Stock Exchange; however, the firm has encountered setbacks due to lackluster market conditions.

In 2008, buyout firm CVC Capital purchased a stake in Evonik. CVC Capital had controlled 25% of Evonik, while the rest was owned by the RAG foundation. In February 2013, both owners reduced their stakes selling about 4% each to a group of investors.

On another note, Temasek Holdings bought a stake in Bangalore-based Healthcare Global Enterprises, an Indian provider of cancer healthcare, for 32.5 million SGD. Healthcare Global Enterprises maintains 26 healthcare centers in Asia. Temasek Holdings joins existing investors such as Premji Invest and Milestone Religare. Evolvence India Life Sciences Fund, an early investor, will be exiting their investment to Temasek Holdings.

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