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Abu-Dhabi-based Mubadala Investment Company and two other funds have acquired a minority 8 per cent stake in Manipal Health Enterprises from Singapore's sovereign wealth fund Temasek. Mubadala Investment Company in a statement on Monday said that it is investing in Manipal Health Enterprises. Temasek will continue to hold a majority stake in Manipal, it added. In April last year, Temasek acquired an additional 41 per cent stake in Manipal for more than Rs 16,300 crore, taking its total shareholding to 59 per cent in one of the country's largest hospital chains. According to sources, Temasek has reduced its stake by 8 per cent in the hospital chain. Novo Holdings and California Public Employees' Retirement System (CalPERS) are the other new investors in Manipal Health Enterprises, according to a release by the hospital chain. "Given the ever-increasing demand for high-quality hospital care across India, we look forward to supporting Manipal's growth journey in the years ahead," Hea
Fair trade regulator Competition Commission of India (CCI) on Monday cleared Seventy Second Investment Company's proposed stake acquisition in Manipal Health Enterprises. The deal has been approved under the green channel route. Manipal Health Enterprises operates a network of hospitals providing multi-specialty care. It has a presence through 27 hospitals in 14 cities in the country. The combination relates to Seventy Second Investment Company proposal to acquire an equity stake in Manipal Health Enterprises Pvt Ltd, CCI said. Seventy Second Investment Company is an investment entity, wholly-owned by the investment vehicle of the Government of Abu Dhabi and is incorporated in the Emirate of Abu Dhabi, United Arab Emirates. "The activities of the parties (including their affiliates) do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant markets," the competition watchdog said in its notice. Therefore, the proposed combination is being