Devyani International and Sapphire Foods revise merger plan
In short
Devyani International and Sapphire Foods have changed their planned merger. The change came after SFML’s planned 18.5% stake sale to Arctic International was called off.
SFML will now join the merger on the same terms as other Sapphire Foods shareholders.
What the reporting says
Devyani International and Sapphire Foods have revised their proposed merger scheme after promoter SFML’s planned 18.5% stake sale to Arctic International was terminated.
Why it matters
The merger scheme involving Devyani International and Sapphire Foods has been revised after SFML’s planned 18.5% stake sale to Arctic International was terminated.