DLF sells Aman Resorts for $358 million

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