Devyani International gets CCI nod for Sapphire Foods merger

Devyani International Limited (DIL) has received approval from the Competition Commission of India (CCI) for the proposed merger of Sapphire Foods India Limited (SFIL) with and into DIL. This follows earlier approvals from the Board of Directors of both companies and joint applications filed with the CCI. The detailed order from the CCI is awaited. This merger, contemplated under the Scheme of Arrangement, is a significant step for DIL's corporate restructuring.