Coffee Day Enterprises formalises asset-sale plans

Our Bureau Bengaluru | Updated on September 09, 2019 Published on September 09, 2019

A Cafe Coffee Day coffee shop, operated by Coffee Day Enterprises Ltd. (File photo)   -  Bloomberg

Coffee Day Enterprises, which runs Cafe Coffee Day, is finally formalising its plans to sell some of its key assets.

It has hired IDFC Securities to identify the strategic options for Coffee Day Enterprises Ltd including divestment of its holding in Coffee Day Global Limited and any other group company (other than SICAL Logistics Limited).

The adviser will also look into refinance of existing debt and raising additional facilities to repay debt in CDEL and its subsidiaries.

The company founded by late VG Siddartha recently concluded a deal to sell its Global Village Tech Park to PE fund Blackstone for ₹2,800 crore.

Published on September 09, 2019
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