Coffee Day to sell techpark for Rs 2,700 crore

Our Bureau Bengaluru | Updated on September 17, 2019 Published on September 17, 2019

Coffee Day Enterprises, which runs Cafe Coffee Day chain, has said that it has entered into a definitive agreement with Blackstone Group and Salarpuria Satvva Group for investment in GV Techparks, a wholly owned subsidiary of Tanglin Development Ltd. The transaction is at an enterprise value of ₹2,700 crore. In a filing with BSE, Coffee Day Enterprises said the transaction will bring down the debt level of the group which was at ₹4,970 crore.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on September 17, 2019
This article is closed for comments.
Please Email the Editor