Photo Credit: David Shai / Wikimedia

After reaching agreements with the Arbel Fund, Yitzhak Tshuva of the Delek Group has made a U-turn and decided on Friday to sell his controlling stake of Delek Israel (70 percent) to gas station owner to Uri Mansour and Lahav LR, which is controlled by Avi Levy and Eli Lahav.

Delek Group will receive NIS 525 million in the transaction, which will allow it to repay a debt of NIS 342 million to the banks and release a huge lien on Delek Drilling shares, according to the Hebrew-language Calcalist business news outlet.

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Delek Israel controls a nationwide chain of gas stations and convenience stores.

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Hana Levi Julian is a Middle East news analyst with a degree in Mass Communication and Journalism from Southern Connecticut State University. A past columnist with The Jewish Press and senior editor at Arutz 7, Ms. Julian has written for Babble.com, Chabad.org and other media outlets, in addition to her years working in broadcast journalism.
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