Fair trade regulator CCI has cleared the proposed amalgamation of Coffee Day Overseas with Coffee Day Enterprises, which operates the popular CCD chain of shops.
Cafe Coffee DayFair trade regulator CCI has cleared the proposed amalgamation of Coffee Day Overseas with Coffee Day Enterprises, which operates the popular CCD chain of shops.
Coffee Day Enterprises is the parent company of Coffee Day Group, which runs Cafe Coffee Day (CCD) chain.
In a tweet, Competition Commission of India (CCI) said it has approved the “amalgamation of Coffee Day Overseas Pvt Ltd with Coffee Day Enterprises Ltd”.
Post amalgamation, all the assets, investments, rights, title and interests of Coffee Day Overseas will be transferred to Coffee Day Enterprises.
Coffee Day Overseas is presently not actively engaged in any business activities. It has in a few instances, acted as an agent in relation to procurement of raw coffee beans on commission basis, as per filing made to the regulator.
Coffee Day Enterprises also has interests in leasing of commercial office space, financial services, and hospitality, among others, according to the filing.
In October 2015, Coffee Day Enterprises had raised Rs 1,150 crore through an initial public offer.