M&A Deal Summary

Delek Group Acquires Ithaca Energy

On May 4, 2017, Delek Group acquired oil/gas exploration company Ithaca Energy for 1.2B USD

Acquisition Highlights
  • This is Delek Group’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Delek Group’s largest (disclosed) transaction.
  • This is Delek Group’s 2nd transaction in the United Kingdom.

M&A Deal Summary
Date 2017-05-04
Target Ithaca Energy
Sector Oil/Gas Exploration
Buyer(s) Delek Group
Deal Type Add-on Acquisition
Deal Value 1.2B USD
Advisor(s) Pinsent Masons
Burstall Winger Zammit LLP (Legal)

Target

Ithaca Energy

Aberdeen, United Kingdom
website
Ithaca Energy (UK) Ltd. is a North Sea oil and gas operator focused on the delivery of lower risk growth through the appraisal and development of UK undeveloped discoveries and the exploitation of its existing UK producing asset portfolio. Ithaca’s strategy is centred on generating sustainable long term shareholder value by building a highly profitable 25kboe/d North Sea oil and gas company.

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Buyer(S) 1

Buyer

Delek Group

Netanya, Israel

website

Category Company
Founded 1951
Sector Oil/Gas Exploration
Revenue 6.7B ILS (2020)
DESCRIPTION

Delek Group is a holding company through subsidiaries retails gasoline and lubricants, and operates gasoline filling stations, convenience stores and a crude oil pipeline and refinery in the United States, holds interests in the energy, infrastructure, automotive, media, finance and wealth management sectors, and owns real estate investments. Delek Group was founded in 1951 and is headquartered in Herzliya, Israel.

DEAL STATS #
Overall 3 of 4
Sector (Oil/Gas Exploration) 1 of 2
Type (Add-on Acquisition) 3 of 3
Country (United Kingdom) 2 of 2
Year (2017) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-27 Republic Companies

Dallas, Texas, United States

Republic Companies, Inc. is an insurance company providing personal and commercial property and casualty insurance products to individuals and small to medium business primarily in Texas.

Sell $233M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-02 Gadot Biochemical Industries

Haifa Bay, Israel

Gadot Biochemical Industries produces and markets lemon citric acid and citric acid salts used in the food industry, drugs, and detergents, and also markets and sells fructose used as a sugar substitute and premium sweetener. Gadot Biochemical Industries was founded in 1964 and is based in Haifa Bay, Israel.

Sell -
Mergr

Product

Company

Legal