On 25th August 2011 Fashionscandal.com brought you the news that DLF is planning to sell off Aman Resorts minus the Aman Hotel in Delhi to the Malaysian Goverment. You can read the earlier post here: http://wp.me/p1C8a1-Co
However the latest development states that LVMH is most likely to acquire Amanresorts International Pte from DLF Ltd. that owns and manages 25 small luxury resorts worldwide. DLF is seeking to raise as much as US$ 2.2 billion through asset sales to repay debt, according to its latest annual report.
LVMH announced in April 2010 of its plans to foray into luxury property developments on islands in Oman and Egypt under the Cheval Blanc brand. The first Maison du Cheval Blanc hotel was built by LVMH Chairman Bernard Arnault at the French ski resort of Courchevel in 2006. The buying out of Amanresorts International Pte. is part of LVMH’s growth plan. DLF, which acquired Aman Resorts in 2007 for $400 million has got offers from bidders that range from $400 million to $450 million.