The debt-ridden company clarified that there is no negotiation or events taking place regarding its sale of vending machine business to Tata Consumer Products (TCPL).
Coffee Day Enterprises added that the news article would not have any material impact on the company.
Separately, TCPL clarified to the bourses on 25 September 2020 that the news reports are speculative in nature. The company said it does not comment on speculative news reports. It added that evaluates various opportunities on an ongoing basis. If and when any definitive decision is made by the company or any agreement is entered into which qualifies as a disclosable event, the same will be disclosed. There is currently no event/information that requires such disclosure, it said.
Last week, the media reported that TCPL is looking to bid for Coffee Day Enterprises' vending machine business. The company's board has approved exploring the acquisition of the business, which Coffee Day is valuing at Rs 2,000 crore, reports added.
Shares of TCPL were down 0.47% at Rs 507.25 on BSE. It hovered in the range of Rs 503.55 to Rs 523.75 so far.
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