India's Coffee Day hits upper circuit on debt reduction plans

SICAL Logistics

19/08/2019 05:53

** Cafe chain operator's shares  CODE.NS  rise ~5% to 65.8
rupees to hit upper circuit
    ** Promoters plan to restart talks with Coca-Cola Co  KO.N 
to offload a chunk of their stake in the Cafe Coffee Day chain
to cut the group's debt pile further, the Economic Times reports
https://economictimes.indiatimes.com/industry/cons-products/food/coffee-day-may-restart-stake-sale-talks-with-coke/articleshow/70730461.cms
    ** On Saturday, CODE announced https://www.bseindia.com/xml-data/corpfiling/AttachLive/a8f7e5df-eea1-4a9f-8783-70f6e62c6b78.pdf
 ongoing divestment and debt reduction efforts
    ** Debt to reduce by around 24 bln rupees once sale of
Bengaluru-based tech park Global Village completed - statement
    ** Arm Sical Logistics Ltd  SICA.NS  working on divestment
of certain assets and proceeds to significantly reduce the debt
at the unit - statement
    ** CCD did not comment on the ET report




 (Reporting by Harish Bhaskar in Bengaluru)
 ((Harish.Bhaskar@thomsonreuters.com; +91 9886782831; Reuters
Messaging: harish.bhaskar.thomsonreuters.com@reuters.net))