 "Coffee Day Enterprises to sell 85.53% stake in Way2Wealth to Shriram Credit")
Coffee Day Enterprises Ltd (CDEL) on Friday said that it has entered into a share purchase agreement with Shriram Credit Company Limited as a part of which the latter would acquire 85.53 per cent in its subsidiary Way2Wealth Securities at an enterprise valuation of Rs 65.07 crore. Shriram Credit Company Limited is an affiliate of Shriram Ownership Trust.
“A portion of the consideration is subject to receipt of receivables, and a portion of the consideration shall be withheld and released subject to conditions agreed upon in the share purchase agreement,” CDEL said in a filing with the exchanges on Friday.
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