<article>While Temasek is reportedly acquiring True North&#8217;s stake in Manipal Hospitals, Mitusbishi is looking to pick up stake in GreyOrange Robotics.</article>

While Temasek is reportedly acquiring True North&#8217;s stake in Manipal Hospitals, Mitusbishi is looking to pick up stake in GreyOrange Robotics.
<h3>Temasek acquiring True North&#8217;s stake in Manipal Hospitals</h3>
Singapore-based investment firm <a href="http://dealstreetasia.com/tag/temasek" target="_blank" rel="noopener">Temasek Holding</a> has agreed to acquire existing private equity investor <a href="http://dealstreetasia.com/tag/true-north" target="_blank" rel="noopener">True North</a>&#8216;s 16 per cent stake in <a href="http://dealstreetasia.com/tag/manipal-hospitals" target="_blank" rel="noopener">Manipal Hospitals</a> in a Rs 1000 crore ($156 million) deal, said Times of India <a href="http://timesofindia.indiatimes.com/business/india-business/temasek-buys-rs-1k-cr-manipal-stake/articleshow/60724907.cms" target="_blank" rel="noopener">report</a>.
According to the news report, Temasek&#8217;s investment committee last week approved a transaction to buy True North&#8217;s stake in Manipal Health Systems, valuing  it at $1 billion.
Another global investor TPG Capital already owns 22 per cent stake as a significant minority shareholder in the Ranjan Pai-controlled Manipal Hospitals, which runs a hospital chain of around 5,000 beds.
True North reportedly is exiting Manipal with a threefold gain on its five-year-old investment. Temasek joins another global investor <a href="http://dealstreetasia.com/tag/tpg-capital" target="_blank" rel="noopener">TPG Capital</a>, which owns 22%, as a significant minority shareholder in the Ranjan Pai-controlled Manipal Hospitals.
Last year, True North acquired controlling interest in<a href="http://dealstreetasia.com/tag/kims-hospitals" target="_blank" rel="noopener"> KIMS Hospitals</a> with a network in southern India and the Arabian Gulf. The PE firm also has minority shares in <a href="http://dealstreetasia.com/tag/aster-dm" target="_blank" rel="noopener">Aster DM Healthcare</a>, which it plans to exit through an IPO later this fiscal.
<h3>Mitusbishi may pick up stake in GreyOrange Robotics</h3>
Japanese conglomerate <a href="http://dealstreetasia.com/tag/mitsubishi" target="_blank" rel="noopener">Mitsubishi</a> is in talks to acquire a minority stake in <a href="http://dealstreetasia.com/tag/greyorange" target="_blank" rel="noopener">GreyOrange Robotics</a>, a warehouse automation startup, according to<a href="http://epaperbeta.timesofindia.com/index.aspx?eid=31815&amp;dt=20170918" target="_blank" rel="noopener"> a report</a> in The Economic Times quoting sources.
The proposed investment is pegged at less than $20 million, and could also see the participation of  GreyOrange&#8217;s existing investor <a href="http://dealstreetasia.com/tag/tiger-global" target="_blank" rel="noopener">Tiger Global</a>.
According to sources cited in the report, the deal is being structured through a convertible note which could value the company from at least $300 million to up to $500million.
“The company plans to raise a smaller round right now and then go for a larger round of financing by early next year,“ said one of the sources quoted in the report.
The India and Singapore-headquartered company had earlier raised  around $30 million from Tiger Global and <a href="http://dealstreetasia.com/tag/blume-ventures" target="_blank" rel="noopener">Blume Ventures</a>.
Also Read:
<a href="https://www.dealstreetasia.com/stories/68536-68536/" target="_blank" rel="noopener">India: Temasek close to acquiring stake in Manipal Health from True North</a>
<a class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/sg-vc-roundup-grey-orange-raises-30m-series-b-practo-raises-90m-series-c-jungle-ventures-participates-in-livspace-10356/" target="_blank" rel="noopener">Grey Orange Robotics raises $30m in Series B funding</a>

While Temasek is reportedly acquiring True North's stake in Manipal Hotels, Mitusbishi is looking to pick up stake in GreyOrange Robotics.

India Digest: Temasek acquiring stake in Manipal Hospitals; Mitusbishi eyes stake in GreyOrange

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India Digest: Temasek acquiring stake in Manipal Hospitals; Mitusbishi eyes stake in GreyOrange

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