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TPG, Apax, Permira among possible suitors for Delek European arm

18 Feb 2013

israel_flag2_170sqPrivate equity firms Texas Pacific Group, Apax and Permira could make a move to buy Israeli energy and infrastructure group Delek’s European operations, it has emerged.

Reuters cited a report in Israeli daily Calcalist, which said that the three firms plus Russian oil major Rosneft were interested in the business.

The same report said Delek was in talks to sell the business for €800m.

Following the report Delek released a statement saying it had examined the possibility of selling all or part of Delek Europe as part of its strategy to regularly review investments.

The company invited bids for its European operations but said there was no certainty the unit would be sold.

Delek Europe had 1,230 gas stations and 935 convenience stores over four countries as of the end of 2010 following the acquisition of BP’s retail operations in France in October that year.

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