Yum Restaurant India plans to sell its 4.4% stake in Devyani International for Rs 815 crore, marking an exit from the quick service restaurant major.
Yum Restaurant India, the Indian division of Yum Brands, plans to sell its 4.4% stake in Devyani International, operator of KFC and Pizza Hut chains in India, through a block deal for an estimated Rs 815 crore. This marks an exit from the quick service restaurant major, with a floor price set at Rs 153.5 a share, a 8% discount from the current market price. Yum Restaurants has held over 5 crore shares in Devyani International since December 2021.
February 20, 2024
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