DLF sells Amanresorts stake for Rs 1,650 Cr

Realty major DLF Ltd has sold its stake in luxury resorts chain, Amanresorts, to the latter’s founder, Adrian Zecha, for about Rs 1,650 crore ($300 million).
 
DLF Global Hospitality Ltd. (DGHL), the 100 per cent step-down subsidiary of DLF Ltd., and Adrian Zecha, the founder and Chairman of the Amanresorts Group of luxury resorts, announced 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 $300 million and does not include the Aman New Delhi property (Lodhi Hotel), which shall be retained by DLF,” the company said in a filing to the BSE.

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