Delek Israel, managed by Lahav LR True Estate Ltd. (TASE: LAHAV) and Uri Mantzur has proposed a merger deal with Shufersal Ltd. (TASE:SAE), Israel’s largest grocery store chain, which is traded at a sector cap of NIS 7.4 billion and has no managing core.

Delek Israel has offered a share swap deal in which it would acquire a 20% stake in Shufersal, which would make it the retail chain’s greatest shareholder but not its managing shareholder. Lahav LR Genuine 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 fuel station all over Israel and 203 Menta handy outlets and Cup “O” Joe cafes. Final year Lahav LR and Uri Mantzur purchased control of Delek Israel and experienced filed a prospectus for an IPO on the TASE at an approximated company valuation of NIS 1.5 billion. But if the Shufersal merger goes in advance then the IPO will be cancelled.

Posted by Globes, Israel company news – en.globes.co.il – on April 5, 2022.

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