SINGAPORE DLF Ltd., the majority shareholder of Singapore-based Aman Resorts, is not in talks with Banyan Tree Holdings Ltd. to sell its stake in the company, despite published reports to the contrary, both companies say.
The Financial Express newspaper on Monday reported that Banyan Tree, also based in Singapore, is prepared to acquire the luxury Aman Resorts chain for US$350 million, but a Banyan Tree representative confirms to HOTELS that the report is false. “The company wishes to clarify that, contrary to the statements made in the article, the company is not in talks to acquire a stake in Aman Resorts,” Banyan Tree spokeswoman Angelina Hue says.
A spokesman for New Delhi-based DLF says the same. “We are not in talks with Banyan Tree,” spokesman Sanjay Roy tells Dow Jones Newswires. “We have said before that we want to sell a stake in Aman Resorts, but there is nothing yet.”
DLF controls 97% of Aman Resorts shares.