Blackstone, Salarpuria acquire Coffee Day's Tech Park

Private equity major Blackstone Group and Bengaluru-based Salarpuria Sattva have jointly acquired a 3.3 million square feet office park, Global Village Tech Park, in the city owned by Coffee Day Enterprises for ?2,500 crore. The deal has been completed and the money will be paid in three tranches to Coffee Day Enterprises. Salarpuria is likely to hold around 25% stake in the new asset, said two people aware of the deal. Earlier this month, Blackstone paid the first tranche of around ?300 crore. The second tranche of ?1,700 crore will be paid within this week. The remaining money will be transferred by the end of the year, said people quoted above. In September last year, the board of directors of the Coffee Day Enterprises approved the sale of Global Village Tech Park to Blackstone.