Published On: Tue, Dec 16th, 2014

Delek Can’t Get Phoenix Deal to Rise


delek logo, Israeli conglomerate that owns gas stations and major stakes in the Tamar and Leviathan natural gas fields can’t seem to get The Kushner Group to sign on the dotted line for its Phoenix stake. There was a preliminary agreement between Delek and The Kushner Group, which owns the New York Observer and is run by Donald Trump’s son-in-law Jared Kushner, but it doesn’t seem to be panning out, according to Reuters.

In July, Delek thought it had a deal on its hands to sell its 47% stake in the insurer Phoenix to Kushner for 1.7 billion shekels or $434 million. It seems that both parties have walked away peacefully, and Delek is pursuing other potential buyers; “The company is evaluating and advancing further options for a sale of its shares of Phoenix.”

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