Sensex 29278.84 272.82 0.94%
Nifty 8835.6 74.2 0.85%
DLF Ltd has announced that “DLF Global Hospitality Ltd. "DGHL", 100% step-down subsidiary of DLF Ltd., and Adrian Zecha, the founder and Chairman of the Amanresorts Group of luxury resorts, has announced the signing of a definitive agreement to effect Zecha's Management Buy-Out "MBO" of DGHL's 100% shareholding in Silverlink Resorts Ltd., the holding company for Amanresorts.
The value of the "MBO" is at an enterprise value of approximately US$300m and it does not include the Aman New Delhi property (Lodhi Hotel) which shall be retained by DLF Ltd.
The transaction is slated for final closure by end- February 2013 and is subject to usual closing conditions.
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.