CCI approves proposal of Tau Investment to acquire shares in J B Chemicals

According to the Ministry of Corporate Affairs, the proposed combination envisages of acquisition up to 64.90% of the share capital of J B Chemicals & Pharmaceuticals Limited by Tau Investment Holdings Pte. Ltd. (Tau Investment).

Aug 27, 2020 02:08 IST India Infoline News Service

The Competition Commission of India (CCI) on Wednesday has approved the proposal of Tau Investment to acquire shares in J B Chemicals.

According to the Ministry of Corporate Affairs, the proposed combination envisages of acquisition up to 64.90% of the share capital of J B Chemicals & Pharmaceuticals Limited by Tau Investment Holdings Pte. Ltd. (Tau Investment).

Tau Investment is a company incorporated in Singapore. It is an indirect wholly-owned subsidiary of KKR Asian Fund III L.P. It is an affiliate of funds, vehicles and/or entities managed and/or advised by Kohlberg Kravis Roberts & Co. L.P., which is an indirect subsidiary of KKR & Co. Inc. The stock is currently trading at Rs799.80, up by Rs10.3 or 1.3% from its previous closing of Rs789.50 on the BSE.

The scrip opened at Rs793.20 and has touched a high and low of Rs803.60 and Rs792.50 respectively.

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