Delek Group (Hebrew: קבוצת דלק) is an Israeli holding conglomerate mainly operating in the petroleum industry. Delek Group's largest subsidiary is Delek – The Israel Fuel Corporation, one of the largest chains of filling stations in Israel. Delek Group also owns E&P operations across the Levant, in the North Sea and in the Gulf of Mexico. Beyond the oil industry, it also owns coffeehouse chain Café Joe as well as 70% of the Israeli franchisee of Burger King.
 | |
| Company type | Public |
|---|---|
| TASE: DLEKG | |
| Industry | Conglomerate |
| Founded | 1951 |
| Headquarters | Netanya, Israel |
Key people | Idan Wallance (CEO) |
| Products | Oil, gas, automotive |
| Revenue |  ₪ 44.567 billion (2010) |
| ₪ 1.225 billion (2010) | |
| Total assets | ₪ 91.896 billion (2010) |
| Total equity | ₪ 4.877 billion (2010) |
| Website | www |
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. Delek Group previously held major shares in automobile import company Delek Motors, nutraceuticals company Gadot Biochemistry, desalination company IDE Technologies and holding company Phoenix Holdings, all of which were later sold.
History
editDelek Group was first founded as Delek – The Israel Fuel Corporation Ltd 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.[2] 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. had recently resigned.[3] Gabi Last, former commissioner and commander of the Tel Aviv Central District, has been chairing Delek Group for several years.[4] On January 1, 2020, Idan Wallance became Delek's new CEO.[5]
Holdings
editEnergy and infrastructure
edit- Delek Energy [87.6%]
- Delek Drilling LP (TASE: DEDR.L) [68.8%]
- Avner Oil & Gas Exploration LP (TASE: AVNR.L) [55.9%]
Assets include holdings in Yam Tethys Partnership, Tamar gas field, Leviathan gas field, Tanin gas field, and Aphrodite gas field.
- Delek Petroleum Ltd. [100%]
Food and restaurants
edit- Café Joe [100%]
- Burger King (Israeli franchisee) [70%]
Former holdings
edit- 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[6]
- HOT Cable Communications Systems Ltd.
- Starbucks Israel[7]
- The Republic Group, an insurer, was sold to AmTrust Financial Services for $140 million on April 19, 2016.
Infrastructure
edit- 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
edit
Phoenix Holdings Ltd.[56%]
Automotive
edit- Delek Automotive Systems Ltd. (branded as Delek Motors) (TASE: DLEA) [32%] - largest car dealer in Israel, importer of Mazda and Ford vehicles[8]
Nutrition
edit- Gadot Biochemical Ltd.
Criticism
editInvolvement in Israeli settlements
editOn 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.[9] These settlements are considered illegal under international law.[10] 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.[11]
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.[12]
See also
editReferences
edit- ^ "Delek Group - Investor Relations - Stock Quote and Chart". Archived from the original on 2013-09-06. Retrieved 2011-10-11.
- ^ "Delek Petroleum, Ltd". Archived from the original on 2008-12-27. Retrieved 2008-06-20.
- ^ "Jerusalem Post on Karadi". Archived from the original on 2011-09-24. Retrieved 2019-07-21.
- ^ Haaretz: Delek Hires top cop
- ^ "Delek Group Appoints New CEO". Archived from the original on 2019-11-29. Retrieved 2020-01-06.
- ^ "Delek on Dankner". Archived from the original on 2007-12-26. Retrieved 2008-06-20.
- ^ "Press Releases - Starbucks Dissolves Joint Venture with the Delek Group of Israel". Archived from the original on 2014-08-19. Retrieved 2014-08-20.
- ^ The Bob Bey Property Report Archived 2009-01-27 at the Wayback Machine
- ^ "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.
- ^ "UN Security Council Resolution 2334, 2016 (S/RES/2334(2016))". United Nations Security Council. 23 December 2016. Retrieved 5 July 2021.
- ^ "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.
- ^ 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
edit- Delek website Archived 2021-02-04 at the Wayback Machine