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.
Deutsche Securities Mauritius Limited has sold its 1.95 percent stake in Jubilant Life Sciences Limited, a global life sciences and pharmaceutical company, for just over INR122 crore. The sale of the stake was performed as an open market transaction, and purchased by Citigroup Global Markets Mauritius Pvt. Ltd.