India, Oct. 21 -- The Government of India has issued a release:
The Competition Commission of India has approved the proposed acquisition of J. B. Chemicals & Pharmaceuticals Limited by Torrent Pharmaceuticals Limited with voluntary modifications.
The proposed combination relates to acquisition of shareholding by Torrent Pharmaceuticals Limited (Acquirer) in J. B. Chemicals & Pharmaceuticals Limited (Target) and the subsequent amalgamation of the Target with the Acquirer (Proposed Combination) (Acquirer and Target are collectively the 'Parties').
The Acquirer is the flagship company of the Torrent group and is inter alia engaged in the business of manufacturing and sale of pharmaceutical formulations (FDFs) across therapeutic segments.
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