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Delek Group CEO Asaf Bartfeld
Delek Group CEO Asaf Bartfeld 
 
 

Delek says mulling sale of European unit

Israeli real estate, energy and insurance conglomerate in talks to sell its European operations for €800 million, Calcalist reports

Reuters
Published: 02.27.13, 07:50 / Israel Business

Israeli real estate, energy and insurance conglomerate Delek Group is examining the sale of all or part of its European unit.

 

The company said in a statement to the Tel Aviv Stock Exchange third parties could submit bids to buy Delek Europe BV and then Delek will explore the possibility of starting talks with some or all of them.

 

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It noted it was not certain bids would be accepted.

 

Delek did not provide further information in the wake of a report in the Calcalist financial daily that the company was in talks to sell its European operations for €800 million ($1.06 billion).

 

Calcalist said those interested included Russian crude producer Rosneft and private equity firms Texas Pacific Group, Apax and Permira.

 

Delek Europe has debt of about €440 million ($587 million).

 

It was founded in 2007 as Delek's European energy retail and marketing assets arm. It operates 1,230 gas stations and 935 convenience stores in four countries following the purchase of BP's retail activity in France and Texaco gas stations and convenience stores in Belgium, Luxembourg and the Netherlands.

 

 

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