Business Standard

DLF rises on sale of Aman Resorts luxury hotel chain

DLF said it will sell its Aman Resorts luxury hotel chain in a management buy-out with an enterprise value of around $300 million

Related News

DLF has moved higher by 2% at Rs 227 after the company said it will sell its Aman Resorts luxury hotel chain in a management buy-out with an enterprise value of around $300 million (approx Rs 1,600 crore).

Global Hospitality, 100% step-down subsidiary of DLF and Mr. Adrian Zecha, the founder and Chairman of the Aman Resorts Group of luxury resorts, signed a definitive agreement to effect Mr. Zecha's Management Buy-Out "MBO" of DGHL's 100% shareholding in Silverlink Resorts, the holding company for Aman Resorts,” DLF said in a statement to stock exchanges.

The value of the "MBO" is at an enterprise value of approximately $300 million and it does not include the Aman New Delhi property (Lodhi Hotel) which shall be retained by DLF. The deal is expected to close by the end of February, it added.

The stock opened at Rs 225 and hit a high of Rs 228 on the NSE. A combined 6.04 million shares have changed hands on the counter so far on both the exchanges.

Read more on:   
|
|

Read More

Two entities fail to make prima facie case to revoke ban: Sebi

The Securities and Exchange Board of India (Sebi) today said the restraining order on two entities, related to plunge in some mid-cap stocks in July, ...

Quick Links

 

Market News

Zinc down 0.4% on profit-booking

Metal for delivery in October traded lower by 0.25%

Aluminium down 0.3% on weak demand

Metal for delivery in October shed 0.24%

Copper down 0.3% on low demand, profit-booking

Profit-booking at existing levels weighed on metal prices

Hatsun Agro rises on preferential share issue plans

The company's board will meet on Sep 23 to consider issue of share on preferential basis

Sugar up 0.3% on festive demand

Commodity for delivery in November gained 0.24%

Back to Top