CCI clears Devyani-Sapphire merger of KFC franchisees
The competition regulator's nod brings two of Yum! Brands' big Indian franchisees closer to becoming one company, under an all-share deal.
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The Competition Commission of India has approved the merger of Sapphire Foods India into Devyani International, according to an official release.
Both companies run KFC and Pizza Hut outlets in India.
Sapphire shareholders are to receive 177 Devyani shares for every 100 they hold, under terms announced in January.