Coffee Day Enterprises looks to trim losses, puts Sical Logistics on sale, says report
Updated : September 09, 2019 11:00 AM IST
Coffee Day Enterprises Ltd (CDEL) has put puts its Sical Logistics unit on sale in a bid to trim losses, Mint reported.
ICICI Securities has been hired as the adviser for a potential sale and the transaction could raise between Rs 1,000 and Rs 1,500 crore for CDEL, the company founded by the late coffee entrepreneur VG Siddhartha.
“CDEL is planning to sell the entire promoter stake and assets of Sical Logistics," Mint quoted one person aware of the matter as saying.