Migdal and colleagues will join Rafek in purchasing the power stations in Soreq and Ashkelon from Delek


The sale of Delek Israel’s two power stations in Sorek and Ashkelon to Rafak, which is controlled by Generation Capital, is nearing final completion. Calcalist has learned that two large institutional entities will join the deal and acquire a substantial share in it.

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Migdal Insurance Company will purchase 45% of the power plants with an investment of NIS 165 million, and Amitim, the old pension funds, will purchase 20% of the power plants with an investment of NIS 73 million. This means that only 35% of the power plants will remain on the elbow. Calcalist also learned that NIS 67 million of the proceeds will be given in a seller’s loan from Delek Group for one year. The remaining NIS 300 million will be transferred in cash. The buyers also take on a debt of NIS 450 million of Delek Israel’s debt.

Delek Israel, which is fully controlled by the Delek Group, will cost NIS 150-200 million of the consideration as a dividend to the parent company. This, along with about NIS 500 million that will be raised from the proceeds in the Pi Glilot deal, which was sold to Tzachi Abu for NIS 720 million. Delek Group also sold its shark and crocodile reserves for NIS 318 million, and its shares in Cohen Pituach (NIS 207 million) and Mehadrin (NIS 74 million).

Meanwhile, the decision to raise Delek’s capital is approaching. Delek bondholders will vote today on which alternative to choose. Delek is expected to raise NIS 163 million by the end of the month, July. Day if it’s bRights issue); Or the distribution of the raising: NIS 60 million in July, when Tshuva undertakes to inject its share, 58% of the raising – NIS 36.5 million, and a raising of NIS 103 million in September.

Delek, which is managed by the Wells era, has reached an understanding with a small number of large holders on the split of the fundraiser, but other large institutions are strongly opposed and demand that the company carry out the fundraising as early as July. Delek asked to postpone the entire raising until the end of September and offered compensation of NIS 4 million.
But in the last two days, the stock of Delek has soared, following the Nobel-Chevron deal, and the chances of a successful recruitment increase. Delek Drilling jumped no less than 30% yesterday in a huge turnover, the highest in trade, and completed a jump of 60% in two days. The company is traded at a value of NIS 5.57 billion and doubled its value in less than two weeks.

The parent company, Delek Group, jumped 14% to a value of NIS 1.25 billion and still suffers a 82% decline since the beginning of the year. Delek is still traded at a lower value than the value at which it was traded in the previous round in May, when it raised NIS 137 million.

Isaac Answer Photo: Eyal Toug

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