Abu Dhabi’s Mubadala Investment Company has confirmed its latest venture into the Indian market with an investment in Manipal Health Enterprises.

This move comes hot on the heels of a subsidiary of Mubadala gaining approval from India’s fair-trade regulator, the Competition Commission of India

The deal, as revealed in a filing to the Competition Commission on January 15, was swiftly approved under the green channel route, facilitating immediate clearance upon submission. The specifics of Mubadala’s stake and the transaction’s value remain undisclosed.

Mubadala, acting as the investment arm of the Abu Dhabi government, stands as a key player in the emirate’s strategy to diversify its revenue streams away from reliance on oil. With assets totaling $276 billion, Mubadala is strategically directing its focus toward expanding investments in Asia, particularly in countries like India and Southeast Asia. This move aligns with the backdrop of rapid economic growth and burgeoning domestic populations in these regions.

This isn’t the first time Mubadala has shown interest in India’s potential. In April, the company, alongside the British Columbia Investment Management Corporation, a Canadian pension fund, became a significant investor in Cube Highways Trust, an infrastructure investment trust in India.

Vinod Kumar (UAE)