Private Equity

Liquidity Events

Manipal hospital promoters in talks to raise $500-M debt to buy back TPG's part stake: report

Economic Times  

The Pai family, the promoters of Manipal Hospitals, is in talks with a clutch of banks led by Barclays to raise USD 400-500 million (INR 3,158-3,948 crore), as they seek to buy back half the shares held by private equity investor TPG Capital in India's second-largest hospital chain. Deutsche Bank, DBS, Nomura and Standard Chartered Bank have also been approached. The fundraise, which will be a syndicated acquisition financing facility, will be priced after the Ranjan Pai-led group finalises buyback terms. TPG, which invested USD 146 million in Manipal in 2015, holds a 21.5% stake in Manipal Health Enterprises.