Coffee Day to sell techpark for Rs. 2,700 crore.

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.

HBL