Coffee Day Trading to divest entire stake in Global Edge for nearly Rs100 crore
New Delhi: Coffee Day Enterprises on Tuesday said its subsidiary Coffee Day Trading will divest its entire stake in associate Global Edge Software for a consideration of Rs75-100 crore. Coffee Day Enterprises runs the popular Cafe Coffee Day chain.
“This is to inform that subsidiary of the company ‘Coffee Day Trading’ has agreed to divest its entire 65,20,343 shares in its associate Global Edge Software,” Coffee Day Enterprises said in a BSE filing.
It further said the buyer is Altran Technologies India and consideration received from this sale is “approximately Rs75-100 crore”.
Shares of the company closed 4.47% higher at Rs249.90 apiece on BSE.
- New Delhi, Beijing agree maintaining peace vital for growth of bilateral ties
- Govt forms panel to review insolvency and bankruptcy code
- A property market slump may have ripple effects on innovation, productivity of staff
- I-T issues draft norms allowing foreign banks to convert local branches into wholly owned units
- Govt to decide on capital allocation based on bank business plans: SBI chief Rajnish Kumar