Blackstone Group Inc. completed its acquisition of the Global Village Technology Park in Bengaluru, India, from Coffee Day Enterprises Ltd. for 28 billion Indian rupees, Mint reported Sept. 6, citing two people familiar with the development.
The Indian coffee chain operator plans to utilize proceeds from the sale of the 90-acre property to repay its debts and for working capital requirements, one of the sources said.
A spokesperson for the private equity giant declined to comment on the matter, the publication reported.
As of Sept. 6, US$1 was equivalent to 71.52 Indian rupees.
