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Luthra, Davis Polk, Bryan Cave sell back DLF's Aman hotels to former owner for $350m

Seven years after advising India’s largest realtor DLF in its $250m buy of the Aman resorts group, Luthra & Luthra advised DLF in selling most of the Aman hotels back to their original owner Adrian Zecha for $358m (Rs 1,600 crore).

US law firm Davis Polk & Wardwell also advised DLF while Zecha and Aman were advised by Bryan Cave.

Luthra Delhi senior partner Mohit Saraf and partner Sandeep Dudeja and Davis Polk partner Mark J Lehmkuhler acted for DLF Global Hospitality on the sale of Aman - its entire luxury hotels business, excluding Delhi’s Lodhi Hotel.

DLF will sell its full stake in Silverlink, which is Aman’s controlling entity, to Indonesian hotelier Zecha towards reducing its Rs 21,000 crore debt, reported the Business Standard.

This is DLF’s second attempt to sell Aman since December 2012 when it had entered into a management buyout agreement with Zecha, according to the Economic Times.

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