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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The budget is sound in logic; the market is too clever by half

    For a man derided by former finance minister P Chidambaram for his knowledge of economics as only sufficient to be scribbled on the back of a postage

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Why higher education needs innovation

India is such a great country that it creates complexity ...

Zehra Naqvi

We must overcome the fear of death

It is the biggest irony that the only thing that’s ...

Dharmendra Khandal

Jawai leopards and locals can coexist peacefully

At first glance, the Jawai landscape seems like a large ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture