January 30, 2014 / 1:46 PM / in 4 years

Israel's Delek in talks to sell Europe operations

TEL AVIV (Reuters) - Israeli conglomerate Delek Group (DLEKG.TA) said its subsidiary Delek Europe Holdings is in advanced negotiations with a foreign corporation to sell all or part of its holdings in Delek Europe BV.

“It is emphasized that at this stage of the negotiations there is no certainty that a binding agreement to sell will be signed,” Delek said in a brief statement on Thursday.

    According to Israeli media, Delek is in talks to sell Delek Europe BV to an unnamed British fund for 800 million euros.

    Delek Europe was established in 2007 and made two big acquisitions: the operations of Chevron Corp (CVX.N) in Belgium, the Netherlands and Luxembourg; and the operations of BP PLC (BP.L) in France. BP France’s operations included hundreds of fuel stations and convenience stores and holdings in three fuel storage and marketing terminals.

    Reporting by Tova Cohen

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