India Digest: CCD to restart talks with Coca-Cola; KKR, Everstone eye emids Tech

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In the latest M&A developments, the promoters of Coffee Day Group plan to restart talks with Coca-Cola for selling a chunk of their stake in the Café Coffee Day (CCD) chain. Separately, a bunch of private equity firms are in talks to acquire a controlling stake in emids Technologies.

CCD to restart stake sale talks with Coca-Cola

Following the demise of its founder, VG Siddhartha, the promoters of Coffee Day Group plan to restart talks with Coca-Cola for selling a chunk of their stake in the Café Coffee Day (CCD) chain to pare debt, The Economic Times reported.

The late Siddhartha had been in talks with the beverage giant as of June last week.

The talks stalled as Siddhartha was looking to divest only a minority stake in CCD at Rs 8,000-10,000 crore valuation while Coca Cola was interested in a controlling stake to gain a foothold in the fast-growing cafe business.

KKR, Everstone, others in fray for emids

Private equity firms including KKR, Baring PE Asia, Everstone and ChrysCapital are in separate talks to acquire a controlling stake in in Nashville-based healthcare IT services firm emids Technologies for $200-225 million, The Economic Times reported.

The promoters and three PE investors—Baird Capital, Council Capital and Union Grove Venture Partners — will sell their stakes as part of the transaction. The promoters currently hold 23 per cent stake while the three PE firms together own about 65 per cent in emids.

emids Technologies provides healthcare information technology and BPO services to the healthcare industry. It has hired investment bank Credit Suisse to scout for a buyer.