Mubadala in talks with Temasek for stake buy in Manipal Hospitals
Mubadala is in talks to acquire a stake of less than 10% in India's Manipal Hospitals, in what could be the Abu Dhabi sovereign fund's first investment in the booming Indian healthcare space, people with direct knowledge said.
The fund is holding talks with Singapore's Temasek, which spent $2 billion in April to raise its stake in Manipal to 59% from 18% in the biggest hospital sector deal in India, said two of the three sources, who all sought anonymity as the talks are confidential.
The talks to acquire the small stake from Temasek are at the same April deal valuation of $5 billion, two of the sources said, which implies a value of up to $500 million for the Mubadala-Temasek stake deal.
Temasek said it does not comment on market speculation, while Mubadala de...