Delek Israel Negotiates Eventim Stake in Zappa Amid Legal Dispute

Delek Israel is in negotiations to acquire the stake held by its partner, German entertainment giant Eventim, in the Zappa concert venue chain. This potential deal follows a lawsuit filed by Delek Israel against Eventim earlier this year. The transaction is reportedly valued at NIS 20 million for Eventim's 40.5% share, which would increase Delek Israel's ownership to 81%. The remaining 19% of Zappa is owned by businessman G Golan Einat.

If the deal is finalized, Delek Israel will assume responsibility for ticket sales, a function currently managed by Eventim. The acquisition is pending approval from regulatory bodies, including the Competition Authority, and from banks. Negotiations between the two companies have been ongoing for over a year, and the deal is expected to close within months if approvals are secured.

Zappa operates concert venues in several locations across Israel, including Binyamina, Haifa, Herzliya, Jerusalem, Latrun, and Tel Aviv. The legal dispute began in early 2025 when Delek Israel sued Eventim in the Tel Aviv District Court. Delek sought to prevent its share from being diluted and requested the appointment of an accountant to examine the company's conduct and establish a separation mechanism.

Delek Israel accused Eventim of operating with a lack of transparency and irregularities, specifically citing alleged conflicts between Eventim's former CEO, Ami Feinstein, and artists who refused to work with Zappa. Eventim denied these claims, calling the lawsuit baseless and asserting that Zappa's venues are consistently booked with performances. Eventim also stated that any personal allegations against Feinstein were unfounded.

Both Delek and Eventim have invested millions of shekels into Zappa. However, ongoing disputes and strained relations have impacted the company, which pioneered the concept of combined dining and performance venues, leading to the emergence of strong competitors like Tomix and Kupat Tel Aviv.