Torrent Pharmaceuticals Ltd has obtained approval from CCI to acquire a controlling stake in J.B.?Chemicals & Pharmaceuticals Ltd (JB Chemicals) from global investor KKR & Co., in a transaction valuing about ?25,689 crore on a fully diluted basis. The phased acquisition entails Torrent initially acquiring 46.39 % equity and an additional 2.8 % from select employees, followed by a mandatory open offer for up to 26 % of the target. Post the acquisition, JB Chemicals will be merged into Torrent under a scheme of arrangement.

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