The Competition Commission of India (CCI) has approved the proposal of Tau Investment to acquire shares in JB Chemicals & Pharmaceuticals.

The proposed combination envisages acquisition of up to 64.90% of share capital of JB Chemicals & Pharmaceuticals by Tau Investment Holdings (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.

In July this year, KKR had announced that it will buy a 54% equity stake in JB Chemicals for Rs 3,109 crore.