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DLF sells stake in Adone Hotel for Rs 567 cr

DLF Ltd which is a realty company had given up its entire stake in Adone Hotels and Hospitality Ltd with an amount of Rs 567 crore. This just means that the company is not attached anymore to the company. The Adone Hotels holds a lot of land parcels in the country.

DLF India Logo

DLF India

To name a few, we have Chennai, Thiruvananthapuram and Kolkata. Most of these places are being developed for realty purposes. The company was sold to a Kolkata-based consortium of Avani Projects and Square Four Housing & Infrastructure. The DLF Hotel holding was able to start with the aid of a leading hospitality chain which is the Hilton International.

In their progress, the company was able to buy out the 26 per cent stake of Hilton. The same as with other great companies, it is not impossible that problems would arise. This problem happened to DLF and was troubled with a net debt that stood at a whooping Rs 22,725 crore as of March 2012.

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