DLF non-core divestment: Sells entire stake in Adone Hotels

DLF's wholly-owned subsidiary, DLF Hotel Holdings, has divested its entire shareholding in Adone Hotels and Hospitality Limited for Rs 567 crore. 

The above transaction is in line with the DLF’s stated objective of divesting its non-strategic assets to reduce its debt which stood at Rs 22,725 crore as of March 31. 

The developer is looking at non-core divestment of about Rs 3,000-4,000 crore in six months, and Rs 5,000 crore in the full year ending March 2013.

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