ICICI Venture has completed the acquisition of a 10% stake in Indian fast food & merchandise retail chain, Devyani International (DIL), Business Standard reports. The Indian private equity fund paid a total of $55.70 million for the acquisition. DIL will invest $22.2 million for its expansion and go for an initial public offering (IPO) during the third quarter of this year. It owns and operates fast food retail chains, including Pizza Hut, KFC and Costa Coffee.
Click here for the story fro Business Standard.