September 14, 2014 / 9:00 AM / 5 years ago

Delek Group to sell Britain's Roadchef for $250 million

JERUSALEM (Reuters) - Israeli conglomerate Delek Group (DLEKG.TA) said on Sunday it agreed to sell wholly-owned unit Roadchef, one of Britain’s leading roadside service area businesses, to European fund Antin Infrastructure Partners for about 153 million pounds ($249 million).

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 ($61 million) from the sale.

Reporting by Ari Rabinovitch

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