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Sign in Sign up for a FREE subscriptionBlackstone plans to invest $450m in India
Blackstone Group has plans to invest Rs 3,200 crore ($450 million) to help Ranjan Pai of the Manipal Group acquire Naresh Trehan’s Medanta Hospital for Rs 6,000 crore ($840 million), reported The Economic Times, citing people with knowledge of the matter.
Blackstone is capitalizing the Pai family’s privately held, wholly owned umbrella entity Manipal Education & Medical Group (MEMG). Pai owns 60 percent of Manipal Hospitals through the promoter holding company, with TPG and Temasek owning the remaining stake.
