Yum Restaurants India has sold its entire 4.4% stake in Devyani International, the operator of KFC, Pizza Hut, and Taco Bell franchises in India, for Rs 871 crore.
SBI Mutual Fund (MF), Axis MF, Franklin Templeton MF, Nippon India MF, HDFC Standard Life Insurance, Ghisallo Master Fund LP, Singapore Government, Societe Generale, Goldman Sachs and Morgan Stanley Asia Singapore were among the buyers of Devyani International’s shares. Yum Restaurants India sold 5,30,83,330 shares at an average price of Rs 164.10 each.