Delek buys 25 gas stations in US

By AVI KRAWITZ
November 7, 2005 00:03
1 minute read.

Delek said Sunday that its subsidiary Delek US Holdings has bought 25 gas stations and four properties in Nashville, Tennessee for $33 million, excluding inventory, from BP Products North America. Under the agreement, Delek will gain ownership of 20 stations and the leasing rights to an additional five, each of which have convenience stores attached to them. Delek said that the four properties included in the deal have been designated as sites for future service stations, of which it will own three and have the leasing rights to the remaining one. The company added that the deal is expected to close next month and that the stations will continue to operate under the BP brand after it takes ownership. Delek currently has 234 gas stations and convenience stores which it operates mainly in Tennessee and Virginia. In March, the company bought an oil refinery in Tyler, Texas with a production capacity of 57,000 barrels of oil per day. The investment of $72m. included a 104-k.m. oil transportation pipeline. Delek shares rose 0.3 percent to NIS 56.65 in Tel Aviv.


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