DLF sells Aman Resorts for $358 million

DLF Ltd, India's top real estate developer, said it completed the sale of its

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Aman Resorts luxury hotel chain back to original Indonesian owner Adrian Zecha for an enterprise value of around $358 million.

DLF Global Hospitality, a subsidiary of DLF, sold its full stake in Silverlink, the controlling entity of Aman Resorts, to a joint venture of Peak Hotels & Resorts Group and Zecha.

The deal does not include Lodhi Hotels, Aman Resorts' flagship property in New Delhi, DLF said in a statement to the stock exchange on Sunday. The deal is a part of DLF's objective of divesting its non-core assets, it added.

DLF shares were up more than 5 percent in morning trade, while the broader market was up 0.1 percent.

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