Cash strapped Delek received a 12.7% premium on the market price for its 18.55% stake in the fruit marketing real estate company.
Delek Group Ltd. (TASE: DLEKG), controlled by Yitzhak Tshuva, has sold its full stake in Mehadrin Tnuport Export LP (TASE:MEDH) for NIS 73.8 million cash.
Delek received NIS 119.68 per share at a 12.7% premium on the market price. Delek had a 18.55% stake in Mehadrin, which markets fruit and vegetables and where possible rezoned the land it owns for urban development. Delek's then subsidiary The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5) received the shares as a dividend last year.
Cash strapped Delek, which had a 'going concern' warning attached to its 2019 financial results, is seeking to raise NIS 200 million through an offering of shares and options.
Published by Globes, Israel business news - www.globes-online.com - on May 14, 2020
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Guy Nardi and Guy Liberman