Delek to sell Roadchef for £153m

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Israeli conglomerate Delek Group said it has agreed to sell wholly-owned unit Roadchef, one of Britain’s leading roadside service area businesses, to European fund Antin Infrastructure Partners for about £153m.

Delek Group, which holds major shares in numerous newfound gas fields in the eastern Mediterranean, is looking to sell off most of its non-energy holdings as it considers issuing its shares for trading on the London Stock Exchange in addition to its Tel Aviv listing.

The company said it entered a binding agreement with the European infrastructure fund and the closing is expected to take place by the end of the month.

Delek said it would post a capital gain of 220 million shekels (£37.2m) from the sale.

The group lost 600 million shekels (£101.5m) in the second quarter of the year, including one-time write downs of 715 million shekels (£121m).

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