Delek Group Chosen as Preferred Offeror for Pi Glilot Terminals

June 5, 2007 at 12:00 AM EDT

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Tel Aviv, June 5, 2007, Delek Group (TASE: DLEKG) announced that today, June 5, 2007, as part of the procedure for the sale of Pi Glilot Oil & Pipe Terminals Ltd. (hereinafter: "Pi Glilot"), the Government of Israel's representatives chose Delek - the Israel Fuel Corporation Ltd. (Hereinafter "Delek Fuel Corp."), a Delek subsidiary, as the "Preferred Offeror" for the acquisition of the three fuel terminals offered as part of the sale procedure (Ashdod, Jerusalem and Beer Sheva). The terminals will be sold as one group, following Delek Fuel Corp.'s offer, as part of the sale procedure, of NIS 800 million.

The completion of the transaction of the said fuel terminals is subject to the terms set out in the Pi Glilot sale procedure, including the receipt of the approval of Israel's anti-trust commissioner.

Information about Pi Glilot

Pi Glilot Oil & Pipe Terminals Ltd., in which Delek – the Israel Fuel Corporation Ltd. currently holds 15.3%, is an Israeli company which owns the real estate rights in storage and supply facilities of petroleum products in Jerusalem (an area of 76,000 m2), in Beer Sheva (an area of 87,000 m2) and in Ashdod (320,000 m2). These facilities contain tans farms where the different petroleum products are stored. As of the reporting date, Pi Glilot is engaged in the paid storage and supply of petroleum products to gas companies.