Delek Confirms Intention to Sell Retail Assets

Delek Europe Holdings is in advanced negotiations with a foreign corporation to sell all or part of its holdings in Delek Europe BV, the parent company confirmed in a note released on Thursday.

‘It is emphasized that at this stage of the negotiations there is no certainty that a binding agreement to sell will be signed,’ reads the press release.

Delek Europe was established in May 2007 as the European energy retail and marketing assets arm of the Group. 

Having discovered Tamar and Leviathan gas finds in the last decade, Delek is stepping up efforts to strengthen its exploration and production portfolio. 

It is a few months Delek Group is examining the possibility of a strategic split in the company’s holdings.

‘The outline of such a split contemplates a concentration of the company's activity in the energy sector and oil & gas sector under a new company to be incorporated outside of Israel,’ reads a note released in December.