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Promoters shelve plan to sell controlling stake in CCD, says report

Promoters shelve plan to sell controlling stake in CCD, says report

Promoters shelve plan to sell controlling stake in CCD, says report
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By CNBC-TV18 Sept 6, 2019 8:25:46 AM IST (Published)

The sale of Cafe Coffee Day (CCD) chain is on hold after the promoters of Coffee Day Enterprises and its lenders temporarily shelved a plan to sell a controlling stake in the unit, Mint reported.

The sale of Cafe Coffee Day (CCD) chain is on hold after the promoters of Coffee Day Enterprises and its lenders temporarily shelved a plan to sell a controlling stake in the unit, Mint reported.

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The decision not to sell a stake in Coffee Day Global follows talks with potential suitors including ITC and Coca-Cola, the report said citing two people directly aware of the development.
To pare debt, the promoters are also exploring the possibility of inducting an investor in Coffee Day Enterprises, the report said.
A regulatory filing by Coffee Day Enterprises has pegged the value of the CCD brand at Rs 7,000-8,000 crore.
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