LVMH reportedly bidding for Amanresorts

LVMH Moet Hennessy Louis Vuitton SA (LVMH) is reported to be among the companies interested in acquiring Amanresorts International, according to a Bloomberg story today that cites two people with knowledge of the matter. Spokespeople for Paris-based LVMH, the world’s largest luxury-goods maker, and DLF declined to comment on the deal, according to the report.

Indian real estate developer DLF Ltd., which has owned the 25-unit Amanresorts since 2007, has received at least five non-binding bids, including those from private-equity firms, between US$400 million and US$450 million, one of the sources said.

New Delhi-based DLF is seeking to raise as much as 100 billion rupees (US$2.2 billion) through asset sales to repay debt, according to its latest annual report. It may sell part of its stake in the Amanresorts to a “strategic partner,” Executive Director Saurabh Chawla said in late July. The company plans to keep the Amanresort in New Delhi, two people with knowledge of the matter said.

LVMH said in April 2010 it plans to open two luxury property developments on islands in Oman and Egypt under the Cheval Blanc brand. The first Maison Cheval Blanc hotel was built by LVMH Chairman Bernard Arnault at the French ski resort of Courchevel in 2006.