Billionaire Mehta Brothers-Backed Torrent To Buy Stake In India’s JB Pharma In $1.4 Billion Deal

Torrent Pharmaceuticals—backed by India billionaire brothers Sudhir and Samir Mehta—has agreed to buy U.S. private equity giant KKR’s stake in JB Chemicals and Pharmaceuticals in a deal valued at 119.1 billion rupees ($1.4 billion).

Torrent Pharma will buy a 46.4% stake in JB Pharma at 1,600 rupees per share and will also purchase up to 2.8% of shares from certain employees at the same price. It will then…