Tata Consumer Products has made an upfront offer of up to $150 million (Rs 1,000 crore) to acquire Coffee Day Enterprises’ hot beverage vending machine business, two persons in the know told The Economic Times.
The offer is part of a staggered payout deal, the people said.
Others interested in the business are Domino’s operator Jubilant Foods and marquee global private equity funds like Warburg Pincus, Goldman Sachs and Blackstone.
It was reported last week that the promoters are seeking Rs 2,000 crore for the business.
“While the Tata Group is keen on the business, they are offering only half the price Coffee Day is seeking,” one of the persons said.
Also, Canadian investment giant Brookfield Asset Management has filed a draft offer document with the capital markets regulator to list its real estate investment trust (REIT), people with knowledge of the matter told Moneycontrol.
This will be the third REIT to get listed in India after Embassy Office Parks (Blackstone-backed) and Mindspace REIT (Blackstone and K Raheja Corp-backed).
"The plan is to raise up to Rs 4,500 crore ($610 million). The final amount may vary at a later stage depending on valuations. The plan is to launch the IPO, which would involve primary and secondary parts, by 2020 end or early 2021,” said one of the individuals cited above.
In 2016, Brookfield Asset Management sealed the biggest Indian realty deal when it acquired Hiranandani Group's offices and retail assets in Mumbai for $1 billion.
Recently, the Canadian investor bought grounded carrier Jet Airways’ Mumbai office space for Rs 490 crore.
Also, V Krishna Kumar, who headed the healthcare and pharmaceuticals deals practice at EY in India, has resigned, Moneycontrol said.
Earlier this week, one of the promoters at Eris Life Sciences sold a small stake to a new investor.