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India's antitrust body clears Torrent's ₹11.9B takeover of J. B. Chemicals, pending a 26% open offer.
The Competition Commission of India has approved Torrent Pharmaceuticals' acquisition of J.
B.
Chemicals & Pharmaceuticals, including a 46.39% stake from KKR’s affiliate and an additional 2.80% from employees, for about ₹11.9 billion, with a subsequent open offer to acquire up to 26% more.
The deal, valued at ₹6.8 billion, is subject to voluntary modifications and will result in J.
B.
Chemicals merging into Torrent.
The transaction, India’s second-largest pharma deal, aims to expand Torrent’s portfolio in formulations, APIs, and contract manufacturing.
The CCI found no significant competition concerns after the modifications.
El organismo antimonopolio de India autoriza la adquisición de J por parte de Torrent por ₹11.9B. Es B. Productos químicos, en espera de una oferta abierta del 26%.