Sapphire Foods India Ltd. and Devyani International Ltd. will be merged into a single entity, according to an exchange filing on Thursday.
The scheme of arrangement for the merger of Sapphire into Devyani was approved by the board of directors of both the companies, as per the filing. The deal will bring KFC, Pizza Hut and other Yum! brands chains under one roof.
(This is a developing story)
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