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, ...

Recommended for you

Advertisements

Quick Links

Market News

Coal India 10% stake sale fully covered

Investors bid for 662 million shares of Coal India versus the issue size of 631.6 million shares

Sensex ends below 29,200; BSE Bankex down 3%

The 30-share Sensex provisionally ended down by 482 points at 29,199 and the 50-share Nifty slipped 130 points at 8,823.

Strides Arcolab gains on USFDA OKs oral dosage facility at Bangalore

The stock was up 4% at Rs 933 on BSE.

ICICI Bank dips over 5% post Q3 results

At 1445 hours, the stock was down nearly 6% at Rs 358 on National Stock Exchange.

Lupin extends gain on Cabinet nod to hike FII limit cap to 49%

The stock up 2% at Rs 1,580, extending its Thursday's 3% rally, on the government nod to raise the cap of FII to 49%.

 

Back to Top