Delek Israel Acquires Full Control of Zappa Concert Venues

Delek Israel is set to significantly increase its holdings in the Zappa concert venue chain, following approval from the Israel Competition Authority. The company will acquire the remaining 40.5% stake held by the German ticketing giant Eventim. This move will raise Delek Israel's ownership in Zappa to 81%, with businessman Golan Einat retaining the remaining 19%. The total transaction is valued at approximately 29 million shekels, to be paid in two installments. Delek Israel will initially pay 20 million shekels for Eventim's share in the Zappa venues and an additional 9 million shekels for Eventim's 61% stake in Newco, the company responsible for ticketing operations and customer data. This acquisition will shift ticketing responsibilities to Delek Israel, allowing Zappa to process its own ticket sales. The separation also ends the exclusivity agreement between Zappa and Eventim, enabling Zappa to work with other ticketing platforms and Eventim to offer services to other market players. This deal aligns with Delek Israel's strategy to expand beyond its fuel station business, complementing its existing investments in convenience stores (Menta), cafes (Joe Coffee), Burger King Israel, and Hot Mobile. The Competition Authority classified the deal as 'green,' indicating no significant competitive concerns. Delek Israel had previously acquired a 20% stake in Zappa in 2021 for about 20 million shekels, valuing the chain at approximately 100 million shekels, and further deepened its partnership in 2023.