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DLF acquires stake in hospitality JV

Tuesday, 06 Dec 2011
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DLF has acquired stake in the hospitality JV - DLF Hotels & Hospitality.

The company has acquired 26 per cent stake of its partner Hilton International at a cost of Rs 120 crore. The stake acquisition will make the JV company a wholly owned subsidiary of DLF. The transaction will help the company to take the complete ownership of the company and its underlying assets, including under construction hotel sites, with a view to monetise them in the future. The acquisition of the additional stake has been done as part of DLF's ongoing non-core divestment strategy.

Also See:
DLF plans to invest for developing malls across India(28-November-11)

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