KKR Contemplates Stake Sale in India's JB Pharma, Valued at $3 Billion

29 Feb 2024 , 11:40 AM

KKR & Co. is considering selling its majority stake in India’s JB Chemicals & Pharmaceuticals Ltd. due to interest from possible purchasers, according to individuals familiar with the situation.

The US private equity group is trying to employ financial consultants to assist analyse the sale of its 53.8% share in the Mumbai-based company, according to the sources, who asked not to be identified because the topic is confidential. Other buyout companies and industry leaders have expressed preliminary interest in acquiring KKR’s share, according to the individuals.

JB Pharma’s shares have risen 68% in the last year, putting the business at little more than $3 billion.

 Considerations are still in the early stages, and no final decisions have been taken, according to the individuals, who added that KKR may opt not to pursue a transaction.

In 2020, KKR acquired a controlling share in JB Pharma from the founding Mody family, and it made an open bid for an additional 26% ownership. 

JB Pharma, founded in 1976, manufactures medications in fields such as gastrointestinal, hypertension, dermatitis, and diabetes, according to its website. It ships its pills, capsules, lotions, and other formulations to over 40 nations, including the United States.

KKR & Co. Inc., commonly known as Kohlberg Kravis Roberts & Co., is an American worldwide investment firm that manages a wide range of alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and hedge funds through strategic partnerships.

For feedback and suggestions, write to us at [e-mail]