DLF, India’s biggest developer, is seeking to sell its stake in luxury hospitality chain Amanresorts International, Economic Times reports. The developer has asked for approximately six final bids from a pool of 10 non-binding bids in a process managed by Goldman Sachs and Citigroup.
DLF had acquired controlling stake in Amanresorts in 2007 for $400 million and expects bids in excess of that, adds India Infoline. The transaction is expected to be closed by the end of December.
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