Delek

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Delek Group Ltd.
TypePublic
TASE: DLEKG
IndustryConglomerate
Founded1951; 70 years ago (1951)
HeadquartersNetanya, Israel
Key people
Idan Wallance (CEO)
ProductsOil, Gas, Automotive
RevenueGreen Arrow Up.svg ₪ 44.567 billion (2010)
Green Arrow Up.svg ₪ 1.225 billion (2010)
Total assetsGreen Arrow Up.svg ₪ 91.896 billion (2010)
Total equityGreen Arrow Up.svg ₪ 4.877 billion (2010)
Websitewww.delek-group.com
A Delek petrol station in Tel Aviv

Delek Group is an Israeli conglomerate and one of Israel's largest companies, Delek Group is involved in the energy and infrastructure, with investments in upstream and downstream energy, water desalination and power plants. Delek Group' subsidiaries are also involved in insurance and financial services. Delek Group is listed on the Tel Aviv stock exchange under the ticker symbol, DLEKG,[1] and is a member of the TA-35 Index of leading Israeli companies, as of July 2012 two of the group's subsidiaries are also listed on the TA-35 Index, Avner Oil Exploration LP and Delek Drilling LP. The Delek Group agreed to sell a 52% controlling stake of Phoenix Holding company (insurance and financial undertaking) to the Chinese civilian-run conglomerate Fosun International.[2]

History[]

Delek, The Israel Fuel Corporation Ltd, was founded in 1951

In August 2007, Delek Benelux took over marketing activities for Chevron Global Energy Inc. in Benelux, including 869 fueling stations, mostly under the Texaco brand.[3] The same month, Delek Israel's Delek Pi-Glilot, a fuel storage and distribution company operating in Ashdod, Jerusalem and Beersheba, won a Government Companies Authorities tender to run the fuel storage facilities in Ashdod. A few months later in November, they announced the hiring of former police commissioner Moshe Karadi to run Delek Pi-Glilot, who had recently resigned following findings by the Zeiler Commission "that police had grossly mishandled the murder investigation in the Perinian affair."[4] Gabi Last, former commissioner and commander of the Tel Aviv Central District, has been chairing Delek Group for several years.[5] On 1 January 2020, Idan Wallance became Delek's new CEO.[6]

Holdings[]

Energy and Infrastructure[]

Upstream[]

Assets including holdings in: , Tamar gas field, Leviathan gas field, Tanin gas field, Aphrodite gas field

Downstream[]

A Roadchef service station near the M1 motorway, England
  • Delek Petroleum Ltd. [100%]
    • European Union Delek Europe BV [100%] - 1,230 gas stations and 935 convenience stores
    • United Kingdom Roadchef [100%]
    • Israel Delek Israel Fuel Corporation Ltd (TASE: DLKIS) [86.9%] Israel’s second largest retail gas and lubricants supplier

Infrastructure[]

  • Independent Power Plants (IPP)
  • 360 desalinisation plants constructed in Israel, Cyprus, China, Spain, United States, India and Kazakhstan
  • largest desalinisation plant in the world built in Israel

Insurance and Finance[]

  • Israel Phoenix Holdings Ltd.[56%]
    • The Phoenix Insurance Company Ltd. (TASE: PHOE)
      • Excellence Investments Ltd. (TASE: EXCE) [85%]

Automotive[]

  • Delek Automotive Systems Ltd. (TASE: DLEA) [32%] - largest car dealer in Israel, importer of Mazda and Ford vehicles [7]

Chemicals[]

  • Gadot Biochemical Ltd.

Former Holdings[]

  • Delek Real Estate Ltd. - a company that owned a total land area of 1.8 million m2, through its subsidiaries, Delek Berlon International Ltd., Delek Global Real Estate Ltd., and adding Dankner Investments Ltd. as Dankner Real Estate's construction arm in 2004.[8]
  • HOT Cable Communications Systems Ltd.
  • Starbucks Israel[9]
  • The Republic Group, an insurer, was sold to AmTrust Financial Services for $140 million on April 19, 2016.

Criticism[]

Involvement in Israeli settlements[]

See also: List of companies operating in West Bank settlements

On 12 February 2020, the United Nations published a database of 112 companies helping to further Israeli settlement activity in the West Bank, including East Jerusalem, as well as in the occupied Golan Heights.[10] These settlements are considered illegal under international law.[11] Delek was listed on the database on account of its "provision of services and utilities supporting the maintenance and existence of settlements" and "the use of natural resources, in particular water and land, for business purposes" in these occupied territories.[12]

On 5 July 2021, Norway's largest pension fund KLP said it would divest from Delek together with 15 other business entities implicated in the UN report for their links to Israeli settlements in the occupied West Bank.[13]

See also[]

References[]

  1. ^ "Archived copy". Archived from the original on 2013-09-06. Retrieved 2011-10-11.CS1 maint: archived copy as title (link)
  2. ^ "China's Fosun International to Acquire Phoenix Holdings From Israel's Delek". Insurance Journal. 22 June 2015. Retrieved 24 June 2015.
  3. ^ "Delek Petroleum, Ltd". Archived from the original on 2008-12-27. Retrieved 2008-06-20.
  4. ^ "Jerusalem Post on Karadi". Archived from the original on 2011-09-24. Retrieved 2019-07-21.
  5. ^ Haaretz: Delek Hires top cop
  6. ^ "Delek Group Appoints New CEO".[dead link]
  7. ^ The Bob Bey Property Report Archived 2009-01-27 at the Wayback Machine
  8. ^ "Delek on Dankner". Archived from the original on 2007-12-26. Retrieved 2008-06-20.
  9. ^ "Archived copy". Archived from the original on 2014-08-19. Retrieved 2014-08-20.CS1 maint: archived copy as title (link)
  10. ^ "UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory". Office of the United Nations High Commissioner for Human Rights. 12 February 2020. Retrieved 5 July 2021.
  11. ^ "UN Security Council Resolution 2334, 2016 (S/RES/2334(2016))". United Nations Security Council. 23 December 2016. Retrieved 5 July 2021.
  12. ^ "Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71)". UN OCHA. 12 Feb 2020. Retrieved 2021-09-12.
  13. ^ Fouche, Gwladys; Jessop, Simon (5 July 2021). "Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank". Reuters. Retrieved 2021-09-13.

External links[]

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