Yum Restaurants India plans to sell 4.4% stake in Devyani International for Rs 815 crore at Rs 153.5/share.
Yum Restaurants India plans to sell its entire 4.4% stake in Devyani International, the largest domestic franchisee for Yum Brands (KFC & Pizza Hut) and the sole franchisee for Costa Coffee, via block deals. The floor price for the sale has been set at Rs 153.5 a share, which is at a discount of nearly 8% to the current price. Through the sale, Yum Restaurants aims to raise around Rs 815 crore.
February 20, 2024
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