Khazanah Nasional Bhd., Malaysia's state-owned investment firm, said Wednesday it agreed to buy a 13.2 percent stake in India's Apollo Hospitals Enterprise Ltd. for US$44.23 million (euro36.3 million).
The move underscores Khazanah's efforts to expand overseas, after it bought a 52 percent stake in Indonesia's PT Bank Lippo last month.
Khazanah said it bought 5.5 million shares in Apollo, India's largest private hospital group, from TWL Holdings Ltd., a Singapore-based direct investment fund.
"Khazanah believes the investment in India's leading private health care provider will present a strong platform to participate in the high growth opportunities of the Indian economy and the broader regional health care sector," it said in a statement.
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