Delek Israel Completes Acquisition of Pi Glilot Fuel Terminals

August 1, 2007 at 12:00 AM EDT

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Tel Aviv, August 1st 2007. Delek Group (DLEKG.TA) following on from the press release dated 5th June 2007, the Company is notifying that during the evening hours of 31st July 2007, 'Delek' Israel Fuel Corp. Ltd., completed the transaction under which it acquired the three fuel terminals of the company Pi Glilot Oil & Pipe Terminals Ltd. (Ashdod, Jerusalem and Beer Sheva),

The terminals were sold as one group, as part of the sale procedure, and the completion of the transaction happened after the completion of the terms set out in the Pi Glilot sale procedure and after the approval of Israel's anti-trust commissioner was received.

The adjusted amount paid on the completion of the transaction, totaled approximately NIS 806 million.

 

Information about Pi Glilot

Pi Glilot Oil & Pipe Terminals Ltd., 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.

Contact

Dalia Black

Head of Investor Relations
Delek Group
Tel: +972 9 863 8444
Email: black_d@delek.co.il

Ehud Helft / Kenny Green

International Investor Relations
GK Investor Relations
Tel: (US) 1 866 704 6710 / (UK) 0871 474 1218
E-mail: ehud@gk-biz.com / kenny@gk-biz.com