Devyani International Denies Merger Talks With Sapphire Foods Are Material

Devyani International Ltd. on Friday said there is no material development to disclose regarding a media report suggesting a possible merger with Sapphire Foods India. In an exchange filing, the company said it regularly evaluates strategic opportunities to grow and expand its business, but currently, no event warrants disclosure under listing regulations.

The clarification follows a report by The Economic Times claiming that Yum! Brands Inc. is in talks to facilitate a merger between its Indian franchise partners—Devyani International and Sapphire Foods