Delek Group in talks to sell IDE stake

Yitzhak Tshuva
Yitzhak Tshuva

Co-owners Delek Group and ICL are in talks with potential buyers for desalination company IDE.

<a href="http://www.delek-group.com/" target="new">Delek Group Ltd.</a> (TASE: <a>DLEKG</a>) currently seeks to sell its holdings in IDE Technologies, which it controls together with <a href="http://www.icl-group.com/" target="new">Israel Chemicals</a> (TASE: <a>ICL</a>: NYSE: <a>ICL</a>. According to an informed source, IDE's owners are currently in talks with several bidders interested in the Israeli company. The source adds that the interested parties "include a Chinese bidder."

<p>IDE's owners and the potential buyers are yet to negotiate a price, after the bidders made offers of about the same size as reported in the past, at a company valuation of over $600 million.

<p>The putative sale of IDE is the latest in a series of asset sales that Delek Group has carried out in the past few years and continues to promote. These are large-scale sales of what used to be key Delek operations, part of a strategic shift in the group's activity to the energy sector in Israel and abroad.

 

<p><em>Published by Globes [online], Israel business news - <a href=" http://www.globes-online.com ">www.globes-online.com</a> - on August 8, 2016</em></p> <p><em>© Copyright of Globes Publisher Itonut (1983) Ltd. 2016</em></p>

Yitzhak Tshuva
Yitzhak Tshuva
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