Realty Major DLF has signed an agreement to sell luxury resort chain Amanresorts for $300 Mn to the founder and chairman - Adrian Zecha.
According to BSE filing, the transaction concluded as a MBO of DLF Global Hospitality’s 100% shareholding in Silverlink Resorts Limited (the holding company of Amanresorts) from Adrian Zecha.
The sale of the hotels and resorts under the Amanresorts brand does not include the Delhi property – Lodhi hotel and the transaction is likely to be completed by Feb’13.
DLF has a debt of around R21,200 Cr and the company has targeting to reduce it to R18,000 Cr by the end of this fiscal from sale of two big non-core businesses — Amanresorts and wind energy. DLF was planning to sell hotel - Hilton Garden Inn of New Delhi.
It has recently sold the Mumbai plot to Lodha Developers for about R2,700 Cr.
Gurgaon based 74 BC Technologies Pvt Ltd, which will operate bike-as-a-taxi service under the brand name ‘Baxi’, has raised about R10 Cr ($1.5 Mn) in seed round led by a clutch of high-profile investors.