Devyani International Limited (NSEI:DEVYANI) agreed to acquire remaining 49% stake in Restaurants Development Co. Ltd for THB 880 million on December 18, 2023. The consideration consists of THB 880.5 million in cash.

As part of the consideration, THB 880.5 million was paid towards common equity. As of December 31, 2022, Restaurants Development Co. Ltd reported turnover of THB 5 billion.

The deal is expected to be completed on or before 31st March 2024.