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.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.