Torrent Pharma-JB Chemicals acquisition: Board approves Rs 19,500-cr deal

-JB Chemicals acquisition : The Board of Directors of Torrent Pharmaceuticals , on Sunday, approved the acquisition of a majority stake in J B Chemicals and Pharmaceuticals. With the Rs 19,500-crore deal, Torrent Pharmaceuticals will become India's second most valued pharmaceutical company. Torrent Pharma-JB Chemicals acquisition: Details In an exchange filing today, Torrent informed that it will acquire 46.39 per cent stake from promoters Tau Investment Holdings Pte Ltd, a unit of global investment firm, for about Rs 11,917 crore. The pharma major would additionally buy another 2.80 per cent from certain employees of JB Chemicals at the same acquisition price of Rs 1,600 per share (totalling Rs 719 crore), the filing informed.