Corporate Announcement
Security Code : 539436    Company : COFFEEDAY    
 
Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('Listing Regulations')Download PDF Download XBRL
  Exchange Received Time  17/09/2019 17:30:20         Exchange Disseminated Time   9/17/2019 5:30:25 PM              Time Taken   00:00:05
With reference to above-mentioned subject and in continuation to our disclosure dated 14 August 2019, we wish to inform that the Board has approved and the Company has executed the definitive agreements with entities belonging to Blackstone Group and the Salarpuria Sattva Group for investment in GV Techparks Private Limited, a wholly owned subsidiary of Tanglin Development Limited ('TDL').
The completion of the transaction is dependent on the transfer of Global Village TechPark asset from TDL to GV Techpark Private Limited. The transaction is at an Enterprise Value of INR 2,700 Crore subject to certain closing adjustments. The closing of the transaction is subject to completion of conditions precedent including receipt of regulatory approvals.
This transaction will substantially bring down the debt level of the group which was earlier disclosed on August 17, 2019 as Rs. 4,970 Crore.
 

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