Rami Levy set to buy Delek gas station chain


Rami Levy, the controlling shareholder in Rami Levy Chain Shops Hashikma Advertising and marketing 2006 Ltd. (TASE:RMLI) and his associate revenue producing actual property firm Lahav LR Actual Property Ltd. (TASE: LAHAV) are near signing an settlement to purchase 70% of Delek Israel, managed by Yitzhak Tshuva, at an organization valuation of NIS 750 million. Thus Rami Levy and Lahav can pay NIS 525 million for the stake.

So far as is understood, the events to the deal have exchanged contracts and approval is being sought from the financing banks. The worth of the deal might doubtlessly change consistent with an extra distribution of dividends.

From Tshuva’s standpoint, this deal is preferable to the one with the Arbel Fund, with which he signed a memorandum of understanding (MoU), whereby it will make investments NIS 450 million for a 20% stake of Delek Israel and annual returns of 10% on the funding.

Lahav is managed by former Melisron Ltd. (TASE: MLSR) CEO Avi Levy. The corporate, which has revenue producing property in Europe and Israel in photo voltaic power, has a market cap of NIS 389 million. Relating to Rami Levy, it’s unclear whether or not he’s shopping for Delek Israel along with his personal capital or by means of the retail grocery store chain.

Delek Israel is among the nation’s 4 huge fuel station chains. The corporate has 238 fuel stations across the nation, of which it operates 179, and 195 comfort shops, of which it operates 161 and the others are franchisees.

Workers of Delek Israel have expressed the priority that if Rami Levy buys management of the chain, he is not going to enable the fuel stations and comfort shops to function on the Jewish Sabbath – Friday night to Saturday night.

Tshuva is being pressured to comprehend his belongings due to the money owed owed by his holding firm Delek Group Ltd. (TASE: DLEKG).

en.globes.co.il – on September 14, 2020 © Copyright of Globes Writer Itonut (1983) Ltd. 2020


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