KKR, Baring and Temasek in race to purchase stake in Manipal Hospital

Buyout entities like KKR &Co, Baring Private Equity Asia and Temasek Holdings are in talks to buy a 21.5 percent stake in Manipal Hospitals. Existing investor TPG Capital Management is looking to sell a seven-year-old investment. The fresh talks with global investors were started after TPG’s attempts to sell the shares back to Manipal’s Pai family didn’t fructify.

Why it’s important: The proposed transaction is expected to value the hospital chain at around Rs 30,000 crore. It could be a precursor to Manipal’s proposed public issue expected in 2023-24.
MB Bureau