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Delek Group sells Roadchef for GBP 153 million

Yitzhak Tshuva
Delek Group (TASE: DLEKG, OTCQX: DGRLY), controlled by Yitzhak Tshuva, announced today that it had entered into a binding agreement for the sale of its entire holdings (100%) in Roadchef Ltd. , to Antin Infrastructure Partners, a European infrastructure fund, for approximately GBP 153 million.

The agreement contains no conditions precedent and closing is expected to the end of September 2014. On that date, the Consideration will be paid in full. The agreement includes representations and an undertaking to indemnify that is limited in its amount and term, as is standard practice in transactions of this kind.

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Delek Group bought four years ago, 75% of Roadchef , from the troubled Delek Real Estate, at a price that valued Roadchef at 115 million pounds.

Delek Group CEO Asaf Bartfeld said today “The sale of Roadchef continues Delek Group’s strategy of focusing on its energy business.”

On the closing date, the Company will recognize a profit of approximately $61 million, which will be charged to the profit and loss statement.

Delek Group has also announced that at the weekend it received the second payment, $116.5 million, for the sale of its holding in Delek Europe, a year before the original due date. An identical sum was paid to Delek Group ten days ago, at the closing of the deal for the sale of its Delek Europe stake for a total of $472 million.




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