Delek Retail Finalizes 1.8 Billion Shekel Deal to Acquire HOT Mobile

The sale of HOT Mobile will be officially signed today at 5:00 PM, concluding a process that has lasted over six months. HOT Mobile is being sold to Delek Retail, a subsidiary of the Lahav L.R. Group, which won the tender with a bid of 1.8 billion shekels. Although Pelephone offered a higher bid of 2.1 billion shekels, Delek Retail was preferred due to a higher likelihood of obtaining regulatory approvals.

The cash payment reported to the stock exchange will be 1.2 billion shekels, with an additional 600 million shekels representing HOT Mobile's liabilities that the acquiring group will assume. Delek Retail will hold 40% of the purchasing group, alongside Keystone Infrastructure Fund with 40%, and Leumi Partners holding 20%. Despite this ownership distribution, management rights will remain with Delek Retail, which is managed by Yoram Eyal and controlled by Avi Levy, Uri Menzur, and Eli Lahav. Notably, the Delek Group, owned by Yitzhak Tshuva, holds a 25% stake in Delek Retail.