With YES Bank approval on cards, Coffee Day-Blackstone deal almost sealed

CDEL currently has a three-member board, including Siddhartha's wife Malavika Hegde and S V Ranganath, a retired bureaucrat who acts as the chairman now

In a major relief to Coffee Day Enterprises (CDEL), YES Bank is learnt to have softened its stance and decided to render the ‘no objection’ to the Bengaluru-based firm’s decision to sell its Global Village Technology Park to Blackstone. The private sector lender has conveyed this decision verbally while a formal letter of approval is expected to reach Coffee Day Group in the next 2-3 days, highly placed sources privy to this development said.

“It (the no objection) has not formally come so far, though it is expected in the next 2-3 days,” one of the person sited above said. “What