DLF Global Hospitality (DGHL), a 100% step down subsidiary of DLF, has completed the sale of 100% equity stake in Silverlink Resorts (SRL), the owner of Amanresorts to Aman Resorts Group (ARGL), a joint venture between Peak Hotels & Resorts Group (PHRL) and Adrian Zecha, the founder of Amanresorts for an enterprise value of USD 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.