DLF Sells Amanresort To Adrian Zecha
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.
It has been selling its non-core assets such as hotel plots and IT Parks/SEZs since last couple of years to reduce its debt and also keep focus on real estate business only.
To Read More.
Founded in 1988 by Adrian Zecha, Aman Resorts owns and manages 25 luxury resorts worldwide. DLF Ltd had bought Aman Resorts in Nov'07 for $400 Mn and had further invested in it for rebuilding the old Lodhi hotel in Delhi. It then renamed it as Aman Lodhi. The $400 Mn consisted of equity of $250 Mn and $150 Mn of debt.
It operates three resorts in India - Aman Lodhi in New Delhi and two in Rajasthan - Aman-i-Khas and Amanbagh.
Adrian Zecha (born 1933) is an Indonesian hotelier who is known as the co-founder of Regent International Hotels and founder of Aman Resorts.
Recently, Mahindra Holidays & Resorts India Limited, after buying a luxury resort Holiday On Hill in Shimla, acquired 49% stake in 'Mac Boutique Suites', a resort in Bangkok; Subrata Roy recently bought Slavija Hotel in Ohrid, which is to be used for staff who will work on realisation of his project on Prespa Lake.
Goldman Sachs was also planning to sell its stake in Four Seasons Hotel being developed in Bangalore.
|Readers' Comments||Post a Comment >>|
|2012-12-19||DLF (Part Exit) - Aman Resort - Adrain Zecha||M&A||
|2011-12-02||Aman Resorts - DLF Ltd||M&A||-|
|2010-06-17||Aman Resorts - Kazanah Nasional||Private Equity||
Khazanah Nasional Berhad
|03/10/2013||M&A||Sahara Group||The Oakley Court Hotel||41.03||Completed|
|10/07/2013||M&A||Fleur Hotels Private Limited||Inovoa Hotels and Resorts Limited||-||Completed|
|13/05/2013||M&A||Ikya Human Capital Solutions Private Limited||Avon Facility Management Services Private Limited||-||Completed|
|25/03/2013||M&A||Lite Bite Foods Private Limited||Scalini||-||Completed|
K P Singh
|DLF Centre, Sansad Marg||
Orbit Corporation Limited
Sobha Developers Limited
Ansal Properties And Infrastructure Limited
Anant Raj Industries Limited
IVRCL Assets & Holdings Limited
JP Iscon Limited
Godrej Properties Limited
Neptune Developers Limited
Vijay Shanthi Builders Limited
Lodha Developers Limited
HCC Real Estate Limited
Brigade Enterprises Limited
Parsvnath Developers Limited
Emaar MGF Land Limited
|Aman Resorts Private Limited||Adrian Zecha||C-8/1A, Vasant Vihar||Mahindra Holidays and Resorts India Limited||http://www.amanresorts.com|
|Dec 3, 2013...|
|Dec 5, 2013...|
|Dec 3, 2013...|
|Dec 5, 2013...|
|Dec 4, 2013...|