Delek Real Estate CEO Ilik Rozansky wants to expand the company’s property portfolio.
Sources inform ''Globes'' that Delek Group Ltd. (TASE: DLEKG) subsidiary Delek Real Estate Ltd. (TASE: DLKR) is negotiating to acquire Sahar Development & Investments Ltd. (TASE:SAIN-M) from Paz Oil Company Ltd. (TASE:PZOL) for NIS 240 million. Paz is negotiating with several parties for the sale of the company, and the talks with Delek Real Estate are apparently the farthest along.
Delek Real Estate CEO Ilik Rozansky has had several meeting with Paz controlling shareholder Zadik Bino on the matter. Rozansky wants to expand the company’s property portfolio held through Delek Real Estate Income Properties Ltd., and will reportedly try to float the company.
Sahar Development owns a number of properties, mostly in Tel Aviv, as well as in Netanya and Haifa, with an aggregate space of 44,000 sq.m., as well as malls in Germany.
Published by Globes [online], Israel business news - www.globes.co.il - on May 24, 2007
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