Torrent Pharma is said to seek raising USD 3 billion for KKR stake in JB Chemicals: Report
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New York: Torrent Pharmaceuticals Ltd. is looking to raise as much as USD 3 billion from global banks to buy a controlling stake in JB Chemicals & Pharmaceuticals Ltd, Bloomberg News reported citing people familiar with the matter.
Torrent is considering options including dollar and local currency bonds to help fund a potential purchase of KKR & Co.’s 53.8% stake in JB, said the people, asking not to be identified because the discussions are private. Torrent is seeking financing from lenders such as Barclays Plc, Deutsche Bank AG and Standard Chartered Plc, the people said.
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