Delek Israel proposes merger with Shufersal

Delek Israel, controlled by Lahav LR Actual Estate Ltd. (TASE: LAHAV) and Uri Mantzur has proposed a merger deal with Shufersal Ltd. (TASE:SAE), Israel’s premier supermarket chain, which is traded at a marketplace cap of NIS 7.4 billion and has no controlling core.

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Delek Israel has offered a share swap offer in which it would obtain a 20% stake in Shufersal, which would make it the retail chain’s greatest shareholder but not its managing shareholder. Lahav LR Real Estate Ltd. has a 40% stake in Delek Israel, Uri Mantzur (35%), and Delek Group Ltd. (TASE:DLEKG) (25%).

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Delek Israel operates 243 gas station close to Israel and 203 Menta easy outlets and Cup “O” Joe cafes. Very last calendar year Lahav LR and Uri Mantzur acquired manage of Delek Israel and experienced submitted a prospectus for an IPO on the TASE at an approximated firm valuation of NIS 1.5 billion. But if the Shufersal merger goes ahead then the IPO will be cancelled.

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Published by Globes, Israel business news – en.globes.co.il – on April 5, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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