Cyril Amarchand Mangaldas Advised Devyani International Limited On The Merger With Sapphire Foods India Limited

Cyril Amarchand Mangaldas advised Devyani International Limited on the merger with Sapphire Foods India Limited

The leading law firm in India, Cyril Amarchand Mangaldas advised Devyani International Limited (“DIL”) in relation to the merger of Sapphire Foods India Limited (“SFIL”) with DIL. SFIL and DIL, both listed on BSE Limited and National Stock Exchange of India, operate KFC and Pizza Hut restaurants in India (and select overseas markets) under franchise from Yum! Brands, and are the exclusive franchisees in India. Upon completion, the transaction will result in DIL becoming one of the largest quick-service restaurant operators in India, combining the operations of both companies and positioning the merged entity for accelerated growth, scale, and profitability.

The CAM team was led by Anchal Dhir (Partner) and Shubham Rastogi (Partner), with support from Swini Khara (Senior Associate), Varun Kannan (Senior Associate), Prachurya Sahu (Associate), Coral Shah (Associate), Geetika Kaura (Associate), and Judy Gantzer (Associate).

Avaantika Kakkar (Partner, Head – Competition) advised on competition law aspects of the transaction, with support from Rajat Sharma (Senior Associate), Mohini Parghi (Associate), and Kartik Agrawal (Associate).

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