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

Read more on:    Dlf | Amanresorts | Realty
Related News

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).

“DLF 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

Sebi's draft Fatca norms: Greater scrutiny ahead for high-value US accounts

Financial institutions that don't comply with Fatca can be subject to withholding tax of 30% on payments from US sources

India produces 7.25 MT steel in March: WSA

The country, however, clocked a 3.9% growth rate in production, while world's average growth rate was at 2.7%

Chana up 0.8% on good demand

Commodity for delivery in May increased by 0.83%

Back on track: Railway stocks up on elections frenzy

The stocks have been up for the third day in a row

Sensex, Nifty retreat from record high levels

Sensex touched its all-time high of 22,875.17 and the broader Nifty kissed 6,861.60 figure for first time

Back to Top