Bravia Capital, Chinese firm in race to buy Aman Resorts

The deal is expected to be pegged at around $300-350 million, according to consultants. Sources say at current valuations, the deal is highly likely to go through, aided by a strong dollar that makes it cheaper for foreign buyers. The figures are much lower than the earlier levels of $500-600 million.

Apart from HNA, names of global hospitality giants like US-based Four Seasons and Dubai-based international luxury hotel chain Jumeirah have been doing the rounds as suitors for Aman. Aman was acquired by DLF in 2007 for about $400 million. A mail was sent to Bravia late on Thursday, seeking confirmation of a possible deal, and details are awaited.

DLF in an analysts’ call on Wednesday had said that the company is looking to close the Aman Resorts deal in the next few weeks.

HNA has a presence in airline, airport management, hotel, logistics, real estate, retail, tourism and other related industries. Bravia, under its private and public equity investments, is an investor in and sponsor of eight global businesses across the transportation, logistics and financial services industries. The company also arranges, structures, co-invests and manages investments in and financing of assets in the aviation, shipping, commercial real estate, tourism, and infrastructure sectors, according to its website.

Sources say past talks have fallen through on valuations. “The dynamics of running an asset like Aman is completely different. It is not

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