Tshuva sells Delek Pi Glilot for NIS 720m

Yithak Tshuva / Photo: Yossi Cohen

Delek Pi Glilot owns land for storing gasoline including 90 acres in Jerusalem, 82.5 acres in Ashdod, 7.75 acres in Haifa and 27 acres in Beersheva.

Delek Group Ltd. (TASE: DLEKG) has signed an agreement with the Ashdod based building contractor and developer Yehiel Abu to sell Delek Pi Glilot for NIS 720 million. In recent weeks, Delek controlling shareholder has sold his 70% stake in Elad Residences and land in Bavli in Tel Aviv and other assets as he attempts to save his troubled company.

Delek Pi Glilot owns land for storing gasoline including 90 acres in Jerusalem, 82.5 acres in Ashdod, 7.75 acres in Haifa and 27 acres in Beersheva

Delek Israel CEO Boaz Chechik said, "As part of the sale agreement Delek Israel has made a long term agreement with Pi Glilot to continue receiving services in the same format and scale as the company received before signing the memorandum of understanding."

Published by Globes, Israel business news - www.globes-online.com - on May 7, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Yithak Tshuva / Photo: Yossi Cohen
Yithak Tshuva / Photo: Yossi Cohen
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