In a CNBC-TV18 exclusive, Nayantara Rai learns from sources that DLF has entered into an MoU for selling Aman Resorts. This deal has been on the block for nearly two years.
Sources say they have entered into an MoU with an international consortium which is made up of private equity players as well as hospitality players. The deal is said to be a minimum 15-20 days away. DLF is looking at a valuation of about Rs 1,700 crore.
It was back in around 2006-07, when DLF acquired this super luxury resort chain for about USD 450 million. It is now selling it at about Rs 1,700 crore minus one marquee property which is in the capital and is not part of the sale. DLF does have a debt of nearly Rs 23,000 crore.
When it decided to enter into an MoU, one of the factors that it was looking into was the quality of the bid that had been submitted, which means the milestone payment that the bidder was willing to make and it is on the basis of that experts feel DLF would have chosen this consortium because perhaps with this consortium they will be getting the money faster.
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