Delek Group Ltd. (TASE: DLEKG), controlled by Yitzhak Tshuva, continues to realize its assets and reduce the NIS 6 billion debt it has to bondholders. Delek Group has signed a memorandum of understanding (MoU) with Tidhar and Harel Insurance Investments and Financial Services Ltd. (TASE: HARL) to sell land in Akko's south industrial Zone for NIS 200 million. RELATED ARTICLES Delek Group cutting executive pay Delek Group to raise NIS 37m in equity offering Delek Drilling files for London IPO for spin-off In total the land covers 107.5 acres with rights to build logistics center and warehouses and industrial buildings. Harel and Tidhar paid Delek NIS 10 million on signing the MoU and the balance will be paid when a detailed agreement is signed within 30 days. The land was polluted by an electro-chemicals factory, which operated on the site from 1956 to 2004. Delek bought the land in 2011 for NIS 43 million and invested NIS 57 million more in cleaning the land and paying off municipal tax debts. Published by Globes, Israel business news - en.globes.co.il - on January 17, 2021 © Copyright of Globes Publisher Itonut (1983) Ltd. 2021
