DLF in talks with PEs to sell Aman Resorts - Angel Broking

As per media reports, DLF has walked out of a pact to exclusively negotiate sale of its luxury hotel chain Aman resorts with Indonesian hotelier Adrian Zecha, after the US$300mn deal could not be closed within the stipulated timeframe. It also states that the company has initiated talks with four buyers, including leading private equity (PE) funds, for the sale of Aman Resorts. The stake sale is in-line with the company's strategy to sale its non core asset to reduce its debt.

We continue to maintain Buy rating on the stock with a target price of Rs. 236.

Source : Equity Bulls

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