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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 Research Team / 14:59, May 20, 2015
GPIL reported 13.5% yoy decline in operating profit as the impact of higher volumes was offset by lower product prices