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Two Private Equity Funds Likely To Invest In Cafe Coffee Day: Report
CCD outlet (MANJUNATH KIRAN/AFP/Getty Images)
In a positive development for the beleaguered cafe chain, two private equity funds are planning to make an investment in the Coffee Day group, reports Economic Times.
The move comes after the coffee chain giant cleared a third of its debts to banks and other lenders recently.
According to the report, the talks are being led by Singapore-based SSG Capital Management and Affirma Capital (formerly Standard Chartered PE) for possible investments in Coffee Day Global (CDGL), a subsidiary of the listed entity Coffee Day Enterprises.
The report further states, “top executives of SSG and Affirma spread have had a couple of video-conferencings with the top management of Coffee Day group, including Malavika Hegde, wife of group founder, the late VG Siddhartha. Talks, however, have been inconclusive.”
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