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Deal Wont Include Delhi Property; Will Help DLF Shed Part Of Rs 14,000 - Cr Debt Pile MALAYSIAN sovereign wealth fund Khazanah Nasional Berhad is close to buying a controlling stake in Aman new jersey budget Resorts from debt - laden DLF tours in new jersey for $300-350 million, people familiar with the matter said. A nursing homes in new jersey person privy to internet new jersey the details of the negotiations said the deal may not include Aman's New Delhi property. If conducted, the deal will help India's largest real estate company cut its Rs 14,000-crore debt pile. DLF is being advised by Goldman Sachs while JPMorgan is advising Khazanah. "As per company policy, we do not comment on market speculation," a spokesperson for DLF said in response to queries form ET NOW. Khazanah could not be reached for comment. DLF bought its 97% stake in Aman in 2007 for $400 million. Aman's founder Adrian Zecha owns the remaining 3% stake. Founded in 1988, Aman has, over the years, built up a loyal base of wealthy patrons, commonly known as 'Amanjunkies'. Aman properties are characterized by a small number of rooms, internet in new jersey minimalist architecture and a high staff-to-guest ratio. The group's hotels are typically devoid of reception desks or lobbies and are aimed at conveying a feeling of a private residence to guest.
Aman operaters 23 luxury hotels across Thailand, Bhutan, Combodia, Loas, Montenegro, Morocco, Phillipines, Sri Lanka, the Turks and Caicos Islands, and the US. Khazanah, which is currently locked in a battle with India's Fortis Healthcare for control of Singapore-based Parkway Holdings, manages a portfolio of companies worth over $20 billion, according to details available on its website. They include Telekom Malaysia, Axiata and CIMB Group, Malyasia's second-largest financial services company. new jersey internet Khazanah also owns a stake in India's Apollo Hospitals. A banker close to Khazanah said the fund has a mandate to make investments in new sectors and diversify its investment portfolio to include companies outside Malaysia. It is learnt that DLF will use the proceeds from the sale of Aman Resorts to reduce the debt currently stands at Rs 14,821 crore following the consolidation of liabilities of DLF Assets Limited. DLF confirmed May that it is looking to sell Aman Resorts and cut its debt by Rs 5,000 crore through the sale of non-core assets and refunds from various government authorities. The company's management had also told analysts in a conference fall that it aims to become a zero-debt company by 2014.
Courtesy by: The Economic Times Dtd: June 17, 2010 For more information about real estate, real estate india, Indian real estate, property, property in india, Indian property, property for rent, rented property, apartment for rent, rented apartment, flats for rent, rented flats in delhi, property for sale in delhi, apartments for sale in delhi, flats for sale in delhi homes for sale in noida, flats for sale in noida, real estate in noida, investment option in noida, real estate consultant in noida, realty firm houses in noida, residence in noida, residence in delhi, residence in gurgaon, flats for rent in gurgaon Log in toAnd
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