31-Oct-2026 19:58:16
SAPPHIRE FOODS: CCI APPROVES MERGER WITH DEVYANI INTERNATIONAL
• Merger Approval: Competition Commission of India (CCI) approved the proposed merger of Sapphire Foods India Ltd with Devyani International Ltd • Regulatory Clearance: CCI considered and approved the proposed combination under Section 31(1) of the Competition Act, 2002 • Approval Date: CCI communicated its approval on October 30, 2026 • Merger Structure: Sapphire Foods will merge into Devyani International under the proposed Scheme of Arrangement • Board Approval: Sapphire Foods' Board had approved the merger scheme on August 26, 2026 • Regulatory Progress: CCI approval marks an important milestone towards completing the proposed merger • Next Steps: Detailed CCI order awaited; merger completion remains subject to other applicable approvals and conditions • Business Consolidation: Proposed merger aims to combine the restaurant operations of both companies
DEVYANI INTERNATIONAL LTD