US private equity firm KKR is to acquire a majority stake in JB Chemicals, accelerating the Indian group's growth plans in branded formulations. Post a 54% stake acquisition for $414m via part-purchase from the founders and an open offer at INR745 per share, KKR's final stake could rise to 64.9% if founders offer more shares.
Private equity firms are having a busy year in India. In its second investment in as many months, US PE group KKR has agreed to acquire a majority stake in JB Chemicals & Pharmaceuticals Ltd..
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