The target company is one of five largest income-producing property owners in the UK.
Sources inform ''Globes'' that Delek Group Ltd. (TASE: DLEKG) subsidiary Delek Real Estate Ltd. (TASE: DLKR) is in talks to acquire the controlling interest in one of the UK's five largest income-producing property companies. Sources at foreign investment banks said that Delek Real Estate subsidiaries plan to buy a substantial bloc of shares in the public company, which is traded on the London Stock Exchange at a market cap of NIS 4.2 billion and has NIS 8 billion in shareholders' equity. The company has an annual turnover of NIS 2.6 billion.
The target company's largest shareholder owns just 9% of it, facilitating the acquisition of control. Delek Real Estate is in talks with shareholders who own a quarter of the company altogether.
Delek Real Estate CEO Ilik Rozansky said in response, "As part of the regular business of Delek Real Estate, we periodically consider transactions, and the company notifies the public in accordance with the proper procedures. When we have something to report, we'll report it."
Published by Globes [online], Israel business news - www.globes-online.com - on April 13, 2008
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