Coffee Day Enterprises arm to acquire majority stake in two cos
DSIJ Intelligence / 15 May 2017
Sical Logistics Ltd, the Coffee Day Enterprises subsidiary, in its board meeting held on 12 May 2017 has approved the proposal to initiate the process to acquire majority equity stake in a company in the express logistics business with an annual revenue of Rs 40 crore and to execute necessary agreements to proceed further in this regard, informed Coffee Day Enterprises in a BSE filing on May 13, 2017.
Sical Logistics Ltd, the Coffee Day Enterprises subsidiary, in its board meeting held on 12 May 2017 has approved the proposal to initiate the process to acquire majority equity stake in a company in the express logistics business with an annual revenue of Rs 40 crore and to execute necessary agreements to proceed further in this regard, informed Coffee Day Enterprises in a BSE filing on May 13, 2017.
The Board of Directors of Sical Logistics also approved a proposal to initiate the process to acquire a majority stake in a company in warehousing and distribution business with an annual revenue of Rs 20 crore and to execute necessary agreements to proceed further in this regard, it also said.
The stock of Coffee Day Enterprises closed up by nearly 2% on Monday, 15 May 2017 on the BSE.
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