MoneyWorks4Me

DLF’s arm concludes sale of Aman resorts to ARGL for $358 million

10 Feb 2014 Evaluate

DLF’s - 100% step down subsidiary - DLF Global Hospitality (DGHL) has completed the sale of 100% equity stake in Silverlink Resorts (SRL), the owner of Aman resorts to Aman Resorts Group (ARGL). ARGL is a joint venture between Peak Hotels & Resorts Group (PHRL) and Adrian Zecha, the founder of Amanresorts for an Enterprise Value of $358 million.

The sale has been in the form of management buyout. DLF Global Hospitality had purchased 100% equity in Amanresorts in 2007 from a group of investors. The deal excludes the iconic Lodhi Hotel in Delhi which shall remain a part of DLF. The transaction is a part of DLF’s objective of divesting its non core assets.

DLF is one of India’s largest real estate companies that has over 60 years of track record of sustained growth, customer satisfaction, and innovation. The company has 314 msf of planned projects with 52 msf of projects under construction.

Peers
Company Name CMP
Lodha Developers 1109.05
Prestige EstatesProj 1434.40
Dilip Buildcon 409.70
DLF 653.90
Oberoi Realty 1734.10
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