Wed, Dec 19, 2012 at 10:46
DLF Ltd , India's biggest property developer, will sell its Amanresorts luxury hotel chain in a management buy-out with an enterprise value of around USD 300 million, the company said, in a deal that does not involve Amanresorts' flagship New Delhi hotel.
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DLF to sell Amanresorts in $300 m deal
DLF Ltd , India's biggest property developer, will sell its Amanresorts luxury hotel chain in a management buy-out with an enterprise value of around USD 300 million, the company said, in a deal that does not involve Amanresorts' flagship New Delhi hotel.
Like this story, share it with millions of investors on M3
DLF to sell Amanresorts in $300 m deal
DLF Ltd , India's biggest property developer, will sell its Amanresorts luxury hotel chain in a management buy-out with an enterprise value of around USD 300 million, the company said, in a deal that does not involve Amanresorts' flagship New Delhi hotel.
Amanresorts, with assets including 22 hotels in 12 countries, has been on the block for around two years, as DLF worked to sell non-core assets to reduce its 232 billion rupees worth of debt.
The deal is expected to close by the end of February, DLF said in a statement to stock exchanges.
Also Read: DLF office rental income to reach Rs 2,500 cr by FY15
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