Fair trade regulator CCI on Tuesday (October 21) cleared Torrent Pharmaceuticals Ltd’s proposed acquisition of a stake in JB Chemicals and Pharmaceuticals, subject to voluntary modifications offered by the companies.

The development came after Torrent Pharmaceuticals in June this year announced the acquisition of a majority stake in JB Chemicals and Pharmaceuticals in a ₹ 19,500-crore deal.

”The proposed combination relates to the acquisition of shareholding by Torrent Pharmaceuticals Ltd (acquirer) in JB Chemicals & Pharmaceuticals Ltd (target) and the subsequent amalgamation of the target with the acquirer,” the regulator said in a release.

Also Read: CCI approves 360 ONE’s acquisition of select UBS AG businesses in India

After the completion of the deal, Torrent Pharmaceutica

See Full Page