The Competition Commission of India (CCI) approves the proposal of Tau Investment to acquire shares in J B Chemicals. The proposed combination envisages acquisition of acquisition of up to 64.90% of 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.

J B Chemicals & Pharmaceuticals Limited is an Indian pharmaceutical company, headquartered in Mumbai, Maharashtra. It is listed on BSE Limited and the National Stock Exchange of India Limited.

Detailed order of the CCI will follow.

Merger control approval: Competition nod granted for acquisition of a controlling stake in an Indian pharmaceutical company. The Competition Commission of India granted approval for Tau Investment Holdings Pte. Ltd., an indirect wholly owned subsidiary of KKR Asian Fund III L.P. and affiliate of KKR-managed funds, to acquire up to 64.90% of the share capital of J B Chemicals & Pharmaceuticals Limited, an Indian listed pharmaceutical company; the CCI's detailed order will follow.