India's Devyani, Sapphire rise after report says Yum plans local franchisee merger
ReutersJul 4, 2025 9:27 AM
Indian Pizza Hut and KFC operators Devyani International DEVY.NS and Sapphire Foods SAPI.NS rise 3% to 172.1 and nearly 7% to 342 rupees, respectively
Yum Brands YUM.N is in talks to facilitate a merger of its two franchisee partners, ET reports
*SAPI tells exchanges it is evaluating "various strategic opportunities in ordinary course" with no details of any deal
DEVY and YUM did not immediately respond to Reuters' requests for comment
The negotiations could result in DEVY either acquiring the franchisee rights of KFC and Pizza Hut from SAPI, or all of KFC's franchisee stores in India getting consolidated under DEVY, report adds
Sapphire shareholders to get one share of DEVY for every three owned, report said
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