DLF’s - 100% step-down subsidiary - DLF Global Hospitality (DGHL), and Mr. Adrian Zecha, the founder and Chairman of the Amanresorts Group of luxury resorts, have inked a definitive agreement to effect Mr. Zecha’s Management Buy-Out (MBO) of DGHL’s 100% shareholding in Silverlink Resorts, the holding company for Amanresorts.
The value of the MBO is at an enterprise value of approximately $300 million and it does not include the Aman New Delhi property (Lodhi Hotel) which shall be retained by DLF. Besides, the transaction is slated for final closure by end-Feb 2013 and is subject to usual closing conditions.
