Israeli conglomerate Delek Group yesterday announced that it had agreed to sell Roadchef, one of Britain’s leading roadside service area businesses, to European fund Antin Infrastructure Partners for about £153m.
Delek Group, owned by multi-billionaire Yitzhak Teshuvah, holds major shares in numerous new-found gas fields in the eastern Mediterranean.
The sale of Roadchef is part of a strategy of selling off non-energy holdings as it considers issuing its shares for trading on the London Stock Exchange in addition to its Tel Aviv listing.
Delek managing director Asi Bartfeld told Israeli financial daily The Marker: “The sale of Roadchef was done quickly and efficiently, and continues Delek’s strategy of focusing on its energy activity.”
The company said it entered into a binding agreement with the European infrastructure fund and the closing was expected to take place by the end of the month.
Delek said it would post a capital gain of 220m Israeli shekels (£37.3m) from the sale.