India, Sept. 18 -- Coffee Day Enterprises on Tuesday announced sale of its Global Village Tech Park in Bengaluru to global investment firm Blackstone and realty firm Salarpuria Sattva at an enterprising value of Rs 2,700 crore.
The deal would help Coffee Day Enterprises Ltd (CDEL) pare its debt of nearly Rs 5,000 crore.
"The Company has executed the definitive agreements with entities belonging to Blackstone Group and the Salarpuria Sattva Group for investment in GV Techparks Pvt Ltd, a wholly-owned subsidiary of Tanglin Development Ltd ("TDL")," CDEL said in a regulatory filing.
"The transaction is at an enterprise value of Rs 2,700 crore subject to certain closing adjustments," it added.
The completion of the transaction is dependent ...