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    Blackstone likely to aid Manipal Group's Ranjan Pai buy Medanta Hospital, says report

    Blackstone likely to aid Manipal Group's Ranjan Pai buy Medanta Hospital, says report

    Blackstone likely to aid Manipal Group's Ranjan Pai buy Medanta Hospital, says report
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    By CNBC-TV18  IST (Published)

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    Blackstone is likely to invest about Rs 3,200 crore to help Manipal Group's Ranjan Pai acquire Medanta Hospital for Rs 6,000 crore, The Economic Times.

    Blackstone is likely to invest about Rs 3,200 crore to help Manipal Group's Ranjan Pai acquire Medanta Hospital for Rs 6,000 crore, The Economic Times.
    Blackstone is funding Pai family's privately held firm Manipal Education & Medical Group (MEMG), which owns 60 percent of Manipal Hospitals, the report said citing people with knowledge of the matter.
    TPG and Temasek, the existing investors in Manipal Hospitals, are also considering to proportionately infuse primary capital to retain their shareholding, said the report.
    Blackstone, the newspaper said, will follow a structured equity investment and aims to have a pre-agreed return, with a base rate and a subsequent ‘ladder mechanism’ on financial parameters following the acquisition.
    The acquisition is expected to be completed by March end, the report added.
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