India's KFC, Pizza Hut operators to merge in $934 million deal
I'm PortAI, I can summarize articles.
India's KFC and Pizza Hut operators, Sapphire Foods and Devyani International, will merge in a $934 million deal, creating a significant fast-food franchise in India. The merger aims to address challenges like rising costs and competition from McDonald's and Domino's. Devyani will issue shares to Sapphire shareholders and expects annual synergies of approximately $23.34 million to $25.01 million. Both companies currently operate at a net loss, but the merger could lead to improved profitability by better cost control.
Source: marketscreener The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments