Sources inform ''Globes'' that Yitzhak Tshuva is in talks to sell a hotel held through Delek Group Ltd. (TASE: DLEKG) subsidiary Delek Real Estate Ltd. (TASE: DLKR) to Fattal Hotel Management Ltd. The negotiations come on top of talks by Tshuva's private real estate company, Elad Properties to sell the Golden Tulip Hotel, formerly the Beersheva Hilton, to Fattal for NIS 100 million.
Delek Real Estate wants to sell the 120-room seaside Le Meridien Hotel in Haifa for NIS 90 million. Fattal already manages the hotel. Fattal already manages two hotels in northern Israel, the Golden Tulip Club Tiberias, and the Tulip Inn Sea of Galilee. If the deal for the Le Meridien Hotel is closed, this will be Fattal's first hotel that in owns in the north. Fattal also manages the Le Meridien Hotel in Eilat.
The negotiations are part of Delek Real Estate's sell-off of properties. Sales in January include an office building in on Herzl Street in Tel Aviv to its tenant, Israel Discount Bank (TASE: DSCT), for NIS 42 million, and the sale of a Stockholm office building held through subsidiary Delek Global Real Estate Ltd. (AIM:DGRE) for NIS 78 million.
Delek Global Real Estate has also made an offer for its own shares, ahead of a possible delisting from London’s Alternative Investment Market (AIM).
Published by Globes [online], Israel business news - www.globes-online.com - on February 22, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009