INSUBCONTINENT EXCLUSIVE:
Bengaluru: The Coffee Day Group hopes to close its proposed sale of the Global Village tech park in Bengaluru to US private equity giant
Blackstone in about a week's time, having crossed all major hurdles including government approvals and a green signal from most of its
lenders.
The Ministry of Commerce cleared the proposed deal on Friday
This approval was necessary as the 90-acre IT-focussed business park comes under the special economic zone (SEZ) regulations
Private lender Yes Bank has also issued a no-objection certificate
listed holding company of the group, needed approvals from the central and Karnataka governments as well as NoCs from 16 banks and other
on the condition of anonymity as he is not authorised to speak to the media.
Karnataka chief minister BS Yediyurappa, state officials said,
the late VG Siddhartha, with a pan India footprint of about 1,500 stores