KKR to acquire controlling stake in JB Chemicals for Rs 3,100 crore

Buyout major KKR on Thursday said it will purchase majority stake in J B Chemicals and Pharmaceuticals from its promoters and then make an open offer to acquire 26 per cent more in the branded formulations company. The private equity major has signed a definitive agreement to acquire stake from the Mody family at Rs 745 a share, which is over 4 per cent higher than Thursday's close of Rs 715.40, it said in a statement. KKR has entered into a definitive agreement to purchase a "controlling stake" in the company, it said.