DLF, the country’s largest realty firm by market capitalisation at over Rs 1,48,527 crore,is acquiring the privately-held super luxury resorts and spa chain Singapore-based Amanresorts for around $ 250 million.The company had announced a month ago that it intends to raise $750 million overseas for acquiring and developing properties abroad. Part of the proceeds would be used for funding the Amanresorts acquisition.
Sources close to developments said at $250 million, the deal is being concluded at an extremely conservative valuation. In addition to this payout, DLF will assume debt of approximately $220 million as part of the deal.This will be the first overseas acquisition by India's largest real estate company, which recently went public.
The 20-year-old Amanresorts has 18 operational properties under its belt in Indonesia, Cambodia, Sri Lanka, Morocco, Bhutan, India, the Philippines, the United States, French Polynesia and France.
Read more in The Business Standard article.
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