NEWS ALERT Has Aman Resorts Been Sold - Malaysian Wealth Fund?

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Posted: 18 Jun 2010 | 12:09 pm

The reported sale of the glitzy luxury Aman Resorts by DLF to the Malaysian Sovereign Wealth Fund Khazanah looks to have taken a decidedly intriguing twist.

A published report within India's Economic Times had said Khazanah was close to buying a controlling stake for between USD300-350 million on Thursday June 17.

Malaysian State News Agency Bernama has now stated on June 18th that Khazanah has said there is no deal and the article was "speculative and misleading" in its content.

It appears for the moment that Aman remains vested within India's DLF group who had earlier in the year announced plans to sell its shareholding in order to pay down debt from the company.

Stay tuned for news on the outcome of this saga.

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