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Torrent pharma will acquire majority new: Moreover,
Torrent pharma will acquire majority:
TORRENT PHARMACEUTICALS. Therefore, one of the main Indian laboratories, announced on Sunday the acquisition of a participation of 46.39 % in its more modest counterpart, JB Chemicals and Pharmaceuticals, with the New York Investment Company KKR. In addition, Torrent also plans to merge the two pharmaceutical entities.
This operation, revealed in a joint press release from the three companies, values JB Pharma at 256.89 billion Indian rupees (3.01 billion dollars) on a completely diluted basis.
“This strategic alignment strengthens our ambition to consolidate our presence on the Indian pharmaceutical market. Consequently, while continuing the construction of a larger. Moreover, diverse world group,” said Samir Mehta, executive president of Torrent, in the press release.
Depending on the methods of the agreement, Torrent will initially acquire KKR’s participation in JB Pharma for an amount of 119.17 torrent pharma will acquire majority new billion rupees.
In a second step. Torrent will launch torrent pharma will acquire majority a compulsory public offer to acquire up to 26 % of JB Pharma’s actions owned by the public. at the price of 1,639.18 rupees per share.
Torrent also indicated its intention to acquire up to 2.80 % of shares from certain employees of JB Pharma, specifies the group.
The second phase of the transaction provides for the merger of Torrent and JB Pharma via an arrangement scheme. At the end of this merger, JB Pharma shareholders will receive 51 Torrent shares for each 100 JB Pharma shares held.
KKR confirmed the operation in a separate press release.
“We are convinced that the combination of the forces of our organizations will offer new opportunities to improve access. to health care in our markets. ” said Nikhil Chopra, Managing Director of JB Pharma.
India remains the main Torrent torrent pharma will acquire majority new market in terms of turnover, where the group competes in particular with Mankind Pharma.
torrent pharma will acquire majority Torrent offers drugs for the treatment of cancer. infections and diabetes, and benefits from sustained demand for its specialized treatments and for chronic diseases.
In the January quarter-March, its consolidated net profit increased by 11 % over a year.
For his part. JB Chemicals and Pharmaceuticals also recorded an increase in his profit in the fourth quarter, published in May.
In addition to the stability of the market for its gastrointestinal drugs. metrogyl and sporlac, the company has benefited from demand for its treatments for chronic diseases such as hypertension.
(1 $ = 85. 4400 Indian rupees)
Report: Abu Sultan and Mrinmay Dey in Bangalore; Edition: Joe Bavier
Torrent pharma will acquire majority new
Torrent pharma will acquire majority
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