Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  TEL AVIV STOCK EXCHANGE  >  Delek Group Ltd.    DLEKG   IL0010841281

SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Delek Group Ltd. : Update With Regard to the Possibility of Selling Delek Europe in Light of the Submission of the Full Tender Offer for Delek Israel

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/09/2013 | 03:57pm CEST
Update With Regard to the Possibility of Selling Delek Europe in Light of the Submission of the Full Tender Offer for Delek Israel

Tel Aviv, April 09, 2013. Delek Group (TASE: DLEKG, OTCQX: DGRLY) announced that Delek Petroleum Ltd. ("Delek Petroleum"), the Company's fully owned subsidiary, released today, April 9, 2013, a full tender offer for NIS 1 ordinary shares of Delek, the Israeli Fuel Company, Ltd. ("Delek Israel"). Further to section 1.26.1 of the Period Report for 2012, dated March 24, 2013 (Ref: 2013-01-016789), and further to the immediate report dated February 18, 2013 (Ref: 2013-01-041460) with regard to the possibility of selling part or all of the Company's holdings, directly or indirectly, in the foreign subsidiary Delek Europe BV that is also held indirectly by Delek Israel ("Delek Europe"), the Company is pleased to provide an update as follows:

In the scope of the process to sell Delek Petroleum's holdings in Delek Europe, which is in advanced stages, the Company has received from international companies during the past week, a number of non-binding preliminary bids (Indicative Offers) for the acquisition of the entire holdings of Delek Petroleum in Delek Europe, directly or indirectly. .

It is noted that these offers are preliminary proposals, and are not binding to the bidder nor Delek Petroleum, and are subject to, among others, preconditions, due diligence and the completion of information and may be used as a basis for negotiations . Delek Petroleum will review these offers, as mentioned above, and is expected to invite certain bidders for an additional stage of discussion and disclosure of information prior to receiving any binding offers.

Delek Petroleum will explore the possibility of negotiation with those bidders whose proposals reflects an enterprise value of Delek Europe of approximately EUR 800 million, subject to any adjustment that may be determined by the parties . At this early stage, it is not possible to estimate what will be the final value of the transaction when completed, when it will be completed and what the chances are for its completion.

Forward-looking statement: The above information with regard to the received bids and the offered prices, and about the possibility of negotiating with those bidders who have submitted offers as mentioned above, are forward-looking statements as defined in section 32A of the Securities Law, under which there is no certainty that it will materialize, in whole or in part, and which may materialize substantially differently, and there is no assurance that a binding agreement will be signed and in what value.

This is a convenience translation of the recent HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on April 09, 2013.

About The Delek Group

The Delek Group, Israel's dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean's Levant Basin into one of the energy industry's most promising emerging regions. Having discovered Tamar and Leviathan, two of the world's largest natural gas finds since 2000, Delek and its partners are now developing a balanced, world-class portfolio of exploration, development and production assets with total gross natural gas resources discovered since 2009 of approximately 33 TCF .

In addition, Delek has built an extensive network of global downstream assets, including 1,900 gas stations and convenience stores in the U.S., Europe and Israel, and petroleum refineries in the U.S. Delek also holds significant interests in leading water desalination, power generation, insurance and automotive companies .

In 2012, the Company's revenues were NIS 72 billion ($ 19 billion). Delek Group's shares are traded on the Tel Aviv Stock Exchange (TASE: DLEKG) as part of the TA25 Index.

Contact

Dalia Black / Dina Vince
Investor Relations
Delek Group
Tel: +972 9 863 8444
Email: investor@delek-group.com

Ehud Helft / Kenny Green
International Investor Relations
CCG Investor Relations
Tel: (US) 1 646 201 9246
E-mail: delek-group-ir@ccgisrael.com


distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on DELEK GROUP LTD.
02:22a INSIDER TRADING ACTIVITY DELEK LOGIS : DKL) – major shareholder Bought 6,9..
03/28 DELEK : to Host Conference Calls to Review Full Year 2016 Financial Statements
03/26 DELEK : Receipt of Waiver Concerning Possible Change of Control of Ithaca Energy..
03/24 ITHACA ENERGY : Gets Required Support To Amend Notes For Delek Takeover
03/22 INSIDER TRADING ACTIVITY DELEK LOGIS : DKL) – major shareholder Bought 3,2..
03/22 INSIDER TRADING ACTIVITY DELEK LOGIS : DKL) – major shareholder Bought 11,..
03/22 INSIDER TRADING ACTIVITY DELEK LOGIS : DKL) – major shareholder Bought 21,..
03/20 DELEK : S&P Maalot and Midroog Re-Affirm Delek Group's Debentures Rating
03/17 INSIDER TRADING ACTIVITY DELEK LOGIS : DKL) – major shareholder Bought 34,..
03/15 ITHACA ENERGY : Publication of an offer for the acquisition of the entire share ..
More news
Sector news : Oil & Gas Refining and Marketing - NEC
02:36aDJConocoPhillips to Sell Portion of Canadian Oil-Sands Assets For $13.3 Billion..
02:31a ConocoPhillips sells oil and gas assets to Cenovus for $13.3 billion
03/29 TSX gains as energy shares rise along with oil
03/29DJConocoPhillips to Sell Chunk of Canadian Oil-Sands Assets For $13.3 Billion
03/29 BP : says plans to stop Shah Deniz gas platform for maintenance in 2017
More sector news : Oil & Gas Refining and Marketing - NEC
News from SeekingAlpha
03/15 Noble Energy approved to drill additional Leviathan well
02/23 Leviathan partners approve $3.75B final investment decision
02/06 Israel's Delek offers $524M for Ithaca Energy
2016 Leviathan partners approve budget, nat gas production target for late 2019
2016 Delek Group's (DGRLY) CEO Asi Bartfeld on Q3 2016 Results - Earnings Call Tra..
Advertisement
Financials ( ILS)
Sales 2016 6 257 M
EBIT 2016 1 071 M
Net income 2016 324 M
Finance 2016 16 517 M
Yield 2016 3,82%
P/E ratio 2016 49,55
P/E ratio 2017 32,87
EV / Sales 2016 -0,97x
EV / Sales 2017 -0,82x
Capitalization 10 465 M
More Financials
Chart DELEK GROUP LTD.
Duration : Period :
Delek Group Ltd. Technical Analysis Chart | DLEKG | IL0010841281 | 4-Traders
Full-screen chart
Technical analysis trends DELEK GROUP LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 931  ILS
Spread / Average Target 6,6%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Asaf Bartfeld President & Chief Executive Officer
Gabriel Last Chairman
Barak Mashraki Chief Financial Officer & Executive Vice President
Avraham Harel Director
Carmit Elroy Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
DELEK GROUP LTD.4.48%2 896
EXXON MOBIL CORPORATIO..-9.33%339 351
ROYAL DUTCH SHELL A-6.08%222 578
BP PLC-11.02%111 341
CHINA PETROLEUM & CHEM..5.55%99 184
SAUDI BASIC INDUSTRIES..--.--%77 006
More Results