DLF to close $400m Aman Resorts sale in July: Sources

Realty developer DLF is planning to conclude and complete its sale of Aman Resorts probably by July, reports CNBC-TV18's Nayantara Rai quoting sources.

Some months back, DLF had invited first bid for the sale. However, the global economic slowdown had its repercussion on the sale. Sources say that DLF is in talks with two parties and is likely to sign an exclusive MoU with one of these parties by the end of this month. That will be followed by a final due diligence stage process. Also read: DLF plans to sell stake in insurance JV
According to sources, DLF is hoping to finally sell Aman Resorts by the end of July. It is looking for valuation of around USD 350-400 million. Goldman Sachs has the mandate which had bought Aman Resorts in 2007 for the same price at USD 400 million.
It is a very important sale for DLF as it will help to reduce its debt by Rs 2200 crore.
However, Goldman Sachs is not selling the same property which it had bought in 2007. The property in Lodhi road, Delhi is an ultra-super luxury chain across the world, is not on the block. Also watch the accompanying video.