The Tata group’s offer to buy the Coffee Day Group’s beverage vending machine business has hit a hurdle with two lenders to the struggling coffee chain blocking the deal until their dues are cleared, two people with direct knowledge of the matter said.
Yes Bank and Rabobank, lenders to Coffee Day Global Ltd (CGDL), have demanded repayment of their entire dues for granting a no-objection certificate (NOC) to the proposed deal, the people said on condition of anonymity. CDGL, a unit of publicly traded Coffee Day Enterprises Ltd, runs the Café Coffee Day (CCD) outlets.
