Markets

Coffee Day inks deal to sell Way2Wealth

Our Bureau Bengaluru | Updated on January 24, 2020 Published on January 24, 2020

Coffee Day Enterprises has entered into a definitive agreement to sell Way2Wealth Securities including certain subsidiaries to Shriram Ownership Trust.

Meanwhile, the sale of Global Village Tech Park to PE firm, Blackstone and Salarpuria Sattva, is expected to be closed in a few days.

Shriram Ownership Trust is the promoter of Shriram Capital which is the holding company for their large NBFC and insurance businesses. The transaction will help further deleverage the Coffee Day Group and ensure smooth operations while safeguarding the interests of all stakeholders, including investors, lenders, employees and customers, a statement from the company said.

Sources close to the company said that Way2Wealth was sold for less than ₹200 crore.

Published on January 24, 2020
This article is closed for comments.
Please Email the Editor