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Torrent Pharma in advanced talks to acquire JB Chemicals from KKR
Dev Chatterjee Mumbai
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Torrent Pharmaceuticals Ltd is in advanced negotiations to acquire JB Chemicals & Pharmaceuticals Ltd from the US-based private equity firm KKR & Co, according to people familiar with the matter, as the Ahmedabad-based drugmaker looks to consolidate its presence in the domestic pharmaceutical market.
KKR & Co owns 47.84 per cent of JB Chemicals, and any transaction would trigger a mandatory open offer for public shareholders under Indian takeover regulations. The private equity firm's stake was valued at ₹13,461 crore ($1.57 billion) as of Friday's close, with JB Chemicals shares ending at ₹1,800 apiece, giving the company a market capitalisation
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