Coffee Day Enterprises has signed definitive agreements with Blackstone and Salarpuria Sattva Group for sale of Global Village Tech Park at an enterprising value of Rs 2,700 crore. The company’s board had recently approved the sale of prime real estate property GV Tech Park as part of efforts to raise funds for paring the debt.
The company has executed definitive agreements with entities belonging to Blackstone Group and the Salarpuria Sattva Group for investment in GV Techparks, a wholly-owned subsidiary of Tanglin Development. The completion of the transaction is dependent on the transfer of Global Village TechPark asset from Tanglin Development to GV Techpark.
Coffee Day Enterprises is the parent company of the Coffee Day Group, which houses Cafe Coffee Day that pioneered the coffee culture in the chained cafe segment in India.
