Coffee Day Enterprises Ltd has reportedly signed non-disclosure agreements with private equity firms KKR, TPG Capital and Bain Capital for initiating discussions on a significant stake sale

Yes Bank may either go for the two-week average or a six month average while deciding on the price for the share sale, chief executive Ravneet Gill said

The sale of Global Village Tech park reportedly involves an initial payment of Rs 2,000 crore in the coming weeks while the remaining Rs 700 crore will be paid within the next one year. This is CDEL's first major divestiture in a bid to pare down its Rs 4,970 crore debt.

This development comes less than a month after CDEL, owner of cafe chain Cafe Coffee Day, sold Global Village Tech Park to Blackstone. The company has been trying to divest its assets to pare its debts since the death of its founder, VG Siddhartha.

According to latest data available with exchange, Edelweiss and Indusind Bank, the lenders to troubled Gonibedu Coffee Estate, invoked entire 5.24 per cent of the CDEL shares, the promoter company had pledged with them

Gangaiah Hegde was suffering a head injury and was in coma for some time. His cremation will take place in Chikmagalur district at around 4:30 pm today

According to police sources, water was found in Siddhartha's lungs and his death was due to drowning.

Moser Baer's account has been declared as \"fraud\" by Central Bank of india

Since Siddhartha's death, Coffee Day Enterprises has been trying to divest its assets to pare its debts. Recently, the company's board approved divestment in its GV Tech Park to Blackstone

The Coffee Day Enterprises share has risen for the first time in last three-weeks after the sudden demise of its founder VG Siddhartha; the stock has fallen as much as 68 per cent since July 26, 2019, from Rs 195 to hit an all-time low of Rs 62.95 on August 16

Companies that focus only on the '2 per cent mandate' but cannot find the balance for their core business could be driven to extinction

Biggest share of the group's loans is with the real estate development subsidiary, Tanglin Developments, which has secured unpaid loans of Rs 1,622 crore

The apex body for direct taxes has sought explanation from BR Balakrishnan, who previously served as the principal chief commissioner of Income Tax for Karnataka and Goa and had ordered attachment of Coffee Day Enterprises shares when he was in-charge of the Bengaluru region

The closure of the transaction will be subject to Blackstone completing due diligence, documentation and receiving regulatory approvals. The company expects the formalities to complete in the next 30-45 days

CDEL, the holding company of Coffee Day group firms, said in a stock-exchange filing that it has entered into a non-binding agreement with New York-based private equity giant Blackstone to disinvest its Global Village Tech Park in Bengaluru

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