DLF Ltd, India's largest listed real estate company, is buying luxury chain Amanresorts for around $250 million, a source close to the development said on Wednesday, confirming a report in the Business Standard.
DLF will also assume debt of about $220 million, the source said.
A spokesman for DLF declined comment.
The valuation of the Singapore-based privately held chain of luxury hotels and spas was “extremely conservative”, the paper said, citing sources close to the development.
DLF has a joint venture with Hilton Hotels Corp to develop 75 hotels and serviced apartments over seven years in India.(Reuters)