CCD crisis: Sical to deleverage firm, subsidiaries after Siddhartha's death

Tanglin Retail Reality Developments, part of the group, has a 50.2 per cent stake in the logistics and supply chain solutions company

Sical Logistics, a unit of Coffee Day Group, has said that it is planning to deleverage the company and its subsidiaries in line with observations made by its ultimate holding company Coffee Day Enterprises, following the demise of promoter V G Siddhartha.

The board of directors, which met to consider approval of the June quarter financial results, asked the management to come out with recommendations for the same.

Following the demise of its promoter and further to the observations made by the ultimate holding company — Coffee Day Enterprises — to deleverage the Coffee Day Group, the board considers it appropriate to