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Clarifying the paradox, Rajeev Talwar, Business Head
of DLF for Tourism and Hospitality confirmed with delWine
last Saturday that the deal had in fact gone through.
But the company being a public limited company was obliged
to make the announcement first to the Bombay Stock Exchange;
this was duly done on Tuesday.
Talwar who is a wine connoisseur and a regular reader
of delWine said," I had read your news report on
the deal. I knew it was basically correct so I decided
to keep quiet." DLF had formally gone on record
to deny the deal.
According to a Press Release, Adrian Zecha, Founder
and Chairman of Amanresorts, he has formed an equal
partnership with DLF Ltd. This partnership, in turn
has entered into an agreement to completely buy out
the Amanresorts group. The acquisition will be at US
$250million with an additional debt of about $150 million
to be born by the new identity.
Commenting on the deal, Mr. Gautam Gulati, the Financial
Controller of Amanresorts told editor of delWine, Subhash
Arora, "This transaction is positive for all stakeholders.
It puts amanresorts expansion plans on the fastrack
and we will soon be able to offer a wider
choice of resorts across all regions of the globe."
He further clarified that, "the Interest of Mr.
Adrian Zecha will be very much there through this equal
partnership and the Amanresorts will continue to maintain
its identity."
Amanresorts is the world's leading hospitality and
lifestyle business and currently owns and operates 22
luxury hotels, many with residences, in 12 countries.
It has consistently been top rated over the years by
leading publications such as Conde Nast, Zagat Survey,
Travel & Leisure amongst many others.
In addition to expanding its resort locations, Amanresorts
is developing projects in key gateway cities around
the world, the first of which is scheduled to open in
New Delhi, India, in 2008.
DLF Ltd, India's leading real estate company, currently
has a large number of hotels under development across
India. It has six decades of experience in real estate
and the group's projects span across the whole spectrum
including residential, commercial, retail, infrastructure
and Special Economic Zones (SEZ). It has announced its
foray into hotels and the retail segment, the fastest
expanding sectors of the economy. It's Chairman, K.P.
Singh is considered to be the richest man in the world
owning real estate.
Our earlier report can be viewed at http://www.indianwineacademy.com
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