 "Global Village Tech Park")
Coffee Day Enterprises (CDEL) on Wednesday announced its intent to sell one of its prized assets, Global Village Tech Park, to private equity major Blackstone for a valuation ranging between Rs 2,600 crore and Rs 3,000 crore.
The deal is expected to substantially reduce the overall debt burden of the group, which stands at around Rs 5,200 crore after the payment of Mindtree’s sale proceeds of Rs 2,100 crore net of taxes. The Bengaluru-based firm said a “non-binding letter of intent” to this effect had been signed with Blackstone. “The transaction closure is subject to completion of Blackstone’s due diligence, documentation
