Rediff.com« Back to articlePrint this article

DLF to sell Amanresorts in $300 million deal

December 19, 2012 12:12 IST

DLF Ltd, India's biggest property developer, will sell its Amanresorts luxury hotel chain in a management buy-out with an enterprise value of around $300 million, the company said, in a deal that does not involve Amanresorts' flagship

New Delhi hotel.

Amanresorts, with assets including 22 hotels in 12 countries, has been on the block for around two years, as DLF worked to sell non-core assets to reduce its 232 billion rupees worth of debt.

The deal is expected to close by the end of February, DLF said in a statement to stock exchanges.

Henry Foy in Mumbai
Source: REUTERS
© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.