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NCR: DLF sells Aman Resorts for Rs 1600 Cr

In order to reduce its longstanding debt, DLF Global Hospitality has decided to sell Aman Resorts for Rs1,600 Cr to Adrian Zecha, the Indonasian hotelier who is in-charge of Silverlink, the controlling entity of Aman Resorts.

 

 

 

This deal is expected to close by mid February 2013. However, DLF plans to maintain retain property rights of 6 acres Aman property in Lodhi Road, Delhi. This transaction, in addition to sale of its NTC Mill in Mumbai will help reduced its Rs 21,000 Cr debt to Rs 18,000 Cr by the end of March 2013. In the recent past, DLF also sold a prime land in Mumbai to Lodha Developers to reduce its debt.

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