Rami Levy said mulling withdrawal from Delek Israel deal
21 September 2020 - globes
Sources say disagreements have broken out within the Rami Levy-Lahav LR consortium negotiating to buy the fuel station chain.
Is the deal for the acquisition of Delek Israel by Rami Levy, and Lahav LR Real Estate Ltd. (TASE: LAHAV), controlled by Avi Levy, in danger of breaking down? Sources inform "Globes" that the negotiations on the purchase of the fuel station and convenience store chain have hit a snag, as far as is known because of developments in the buyer group.
The assessment on the market is that next week a deal will be signed that will decide the future of Delek Israel, whether with Rami Levy and Avi Levy, or with the Arbel Fund. For the time being, it seems that because of internal disagreements, Rami Levy's involvement is teetering, so that there is no certainty over who will provide the main finance for the group led by Lahav LR.
According to one market source, Rami Levy is considering withdrawal from the deal because he is dissatisfied at the prospect of the Delek Israel chain continuing to operate on Saturdays. In his other businesses, he is strict about no work being done on the sabbath.
A statement from Lahav LR said, "The LR-Rami Levy group is jointly negotiating the purchase of 70% of the shares in Delek Israel as a united consortium with no differences of opinion between the parties." Rami Levy chose not to comment on the matter.