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News Roundup: DLF Looks To Exit Luxury Hotel Chain

21 September, 2009

DLF Looks To Exit Luxury Hotel Chain – DLF is in talks with various players to fully or partly exit from the international luxury hotel chain Amanresorts. India’s largest property firm had purchased the resort chain at the peak of the economic boom in 2007 end. The company has also held preliminary talks with at least two Indian hotel chains. Amanresorts owns and manages 23 small luxury resorts worldwide, with three of them located in India. (Economic Times)

Rajus May Loose Maytas Properties –  B Ramalinga Raju and his family could now loose control over Maytas Properties, a closely-held realty firm that claims to have a land bank

of over 6,800 acres. The firm is looking for a strategic investor, which it hopes to find by next month. The promoters are under pressure to sell their stakes in projects or even exit the business as they have failed to honour commitments made to customers. (ET)

Apollo To Foray into Wellness – Corporate healthcare group Apollo Hospitals is planning to foray into Rs 1,500 crore wellness business ando has formed a core committee to work on the finer details of the venture. It’s in talks to engage McKinsey to draw the blueprint in this regard. (ET)

Power Grid Plans Bond Issue – State-run power transmission utility Power Grid Corporation of India Limited (PGCIL) would raise around Rs 2,500 crore through a bond issue by October-November this year for financing various projects. The company may also go for another issue of the same size if required. (Business Standard)

Nilkamal To Expand Furniture Retail Biz – Nilkamal Ltd is planning to plans to open around 40-50 stand-alone @Home stores in the next three-years. India’s largest manufacturer of moulded furniture plans an investment of Rs 140-crore for the purpose. The firm plans to scale up the current 15-stores to around 65 by 2012-13. Nilkamal clocked a turnover of Rs 1,000-crore last fiscal with @Home contributing around Rs 127-crore. (DNA)

 


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News Roundup: DLF Looks To Exit Luxury Hotel Chain

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