Following the closing of the transaction, Manipal Group will hold about 30 percent of Manipal Hospitals. Sheares Healthcare Group will retain its existing 18 percent stake.
TPG, which first invested in MHEPL through TPG Asia VI in 2015, will fully exit, but it will hold an interest of 11 per cent in the hospital chain through its new Asia fund, the TPG Asia VIII, MHEPL said.
Singapore-based investment firm Temasek will acquire an additional 41 per cent stake in Manipal Health Enterprises, to take majority control of the Bengaluru-based firm, as per a joint statement issued by the entities today.