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Coffee Day Group has divested its stake in Global Village Undertaking to Blackstone and Salarpuria Sattva. Coffee Day has received Rs 2,000 crore from Blackstone as part of the deal.
This is the first tranche of the transaction, out of which Rs 1,650 crore has been used to repay banks and other financial institutions. The remaining Rs 700 crore would be given to the company by the end of the year.