KKR to acquire stake in JB Chemicals and Pharmaceuticals

KKR to acquire stake in JB Chemicals and Pharmaceuticals


KKR, US-based private equity has now decided to attain about a 54% stake in JB Chemicals and Pharmaceuticals, drug manufacturers in Mumbai.

JB Chemicals and Pharmaceuticals is one of the oldest Indian Pharma Companies. The deal has been sized by the company for around Rs.3100 crore.

In India, it is the second company in which the KKR had invested in the past two months. In the month of May, the company made the 2.32 percent stake in Reliance Industries digital assets subsidiary Jio Platforms. The investment was made for Rs 11,367 crore ($1.5 billion). To date, this was the largest investment in Asia.

It was reported that on June 15, KKR has signed an agreement to attain the company by outbidding rivals PAG, Bain Capital and Apax. KKR has decided to attain the shares of 41.7millions of JB Chemicals from promoters at Rs.745 each.

The company in an announcement said that the deal will prompt an additional offer of a 26% stake.  It is said that if fully approved the company KKR will end up paying Rs.4,600 crore for 80 percent of the company .

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