India's largest real estate developer has entered into an agreement to sell its stake in Aman Resorts for $300 million.
"DLF Global Hospitality Ltd, 100% step-down subsidiary of DLF Ltd and Mr. Adrian Zecha, the founder and Chairman of the Amanresorts Group of luxury resorts, are pleased to announce the signing of a definitive agreement to effect Mr. Zecha's Management Buy-Out "MBO" of DGHL's 100% shareholding in Silverlink Resorts Ltd., the holding company for Amanresorts. The value of the "MBO" is at an enterprise value of approximately USD 300m and it does not include the Aman New Delhi property (Lodhi Hotel) which shall be retained by DLF Ltd. The transaction is slated for final closure by end- February 2013 and is subject to usual closing conditions," the company said in a statement to the exchanges.
Shares of DLF were up 1.28% on the Bombay Stock Exchange.
GoodReturns.in
Notifications
Settings
Clear Notifications
No New Notifications
Notifications
Use the toggle to switch on notifications
Block for 8 hours
Block for 12 hours
Block for 24 hours
Don't block
To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar
Click it and Unblock the Notifications
Close X
Close X
To Start receiving timely alerts please follow the below steps:
Click on the Menu icon of the browser, it opens up a list of options.
Click on the “Options ”, it opens up the settings page,
Here click on the “Privacy & Security” options listed on the left hand side of the page.
Scroll down the page to the “Permission” section .
Here click on the “Settings” tab of the Notification option.
A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification.
Once the changes is done, click on the “Save Changes” option to save the changes.
Click it and Unblock the Notifications
Sign in with Google