Torrent to Acquire KKR’s Stake in JB Pharma for $1.4 Billion (1)

Torrent Pharmaceuticals Ltd. agreed to take a controlling stake in JB Chemicals & Pharmaceuticals Ltd. from private equity firm KKR & Co., the latest sign of a dealmaking boom in India.

Torrent will buy a 46.4% stake in the company known as JB Pharma from KKR for 1,600 rupees ($18.70) per share, according to a statement on Sunday, amounting to about $1.4 billion. Torrent will also launch a mandatory open offer to acquire up to 26% of the company at about 1,639 rupees per share.

Torrent also plans to buy as much as 2.80% of JB Pharma from certain ...