Delek
Delek Group is an Israeli conglomerate and one of Israel's largest companies, Delek Group is involved in the energy and infrastructure, with investments in upstream and downstream energy, water desalination and power plants. Delek Group' subsidiaries are also involved in insurance and financial services. Delek Group is listed on the Tel Aviv stock exchange under the ticker symbol, DLEKG,[1] and is a member of the TA-35 Index of leading Israeli companies, as of July 2012 two of the group's subsidiaries are also listed on the TA-35 Index, Avner Oil Exploration LP and Delek Drilling LP. The Delek Group agreed to sell a 52% controlling stake of Phoenix Holding company (insurance and financial undertaking) to the Chinese civilian-run conglomerate Fosun International.[2]
 | |
| Type | Public |
|---|---|
| TASE: DLEKG | |
| Industry | Conglomerate |
| Founded | 1951 |
| Headquarters | Netanya, Israel |
Key people | Idan Wallance (CEO) |
| Products | Oil, Gas, Automotive |
| Revenue |  ₪ 44.567 billion (2010) |
| ₪ 1.225 billion (2010) | |
| Total assets | ₪ 91.896 billion (2010) |
| Total equity | ₪ 4.877 billion (2010) |
| Website | www |
History
Delek, The Israel Fuel Corporation Ltd, was founded in 1951
In August 2007, Delek Benelux took over marketing activities for Chevron Global Energy Inc. in Benelux, including 869 fueling stations, mostly under the Texaco brand.[3] The same month, Delek Israel's Delek Pi-Glilot, a fuel storage and distribution company operating in Ashdod, Jerusalem and Beersheba, won a Government Companies Authorities tender to run the fuel storage facilities in Ashdod. A few months later in November, they announced the hiring of former police commissioner Moshe Karadi to run Delek Pi-Glilot, who had recently resigned following findings by the Zeiler Commission "that police had grossly mishandled the murder investigation in the Perinian affair."[4] Gabi Last, former commissioner and commander of the Tel Aviv Central District, has been chairing Delek Group for several years.[5] On January 1, 2020, Idan Wallance became Delek's new CEO.[6]
Holdings
Upstream
- Delek Energy [87.6%]
- Delek Drilling LP (TASE: DEDR.L) [68.8%]
- Avner Oil & Gas Exploration LP (TASE: AVNR.L) [55.9%]
Assets including holdings in: Yam Tethys Partnership, Tamar gas field, Leviathan gas field, Tanin gas field, Aphrodite gas field
Downstream
Infrastructure
- Independent Power Plants (IPP)
- 360 desalinisation plants constructed in Israel, Cyprus, China, Spain, United States, India and Kazakhstan
- largest desalinisation plant in the world built in Israel
Insurance and Finance
Automotive
Chemicals
- Gadot Biochemical Ltd.
Former Holdings
- Delek Real Estate Ltd. - a company that owned a total land area of 1.8 million m2, through its subsidiaries, Delek Berlon International Ltd., Delek Global Real Estate Ltd., and adding Dankner Investments Ltd. as Dankner Real Estate's construction arm in 2004.[8]
- HOT Cable Communications Systems Ltd.
- Starbucks Israel[9]
- The Republic Group, an insurer, was sold to AmTrust Financial Services for $140 million on April 19, 2016.
Criticism
Involvement in Israeli settlements
On 12 February 2020, the United Nations published a database of 112 companies helping to further Israeli settlement activity in the West Bank, including East Jerusalem, as well as in the occupied Golan Heights.[10] These settlements are considered illegal under international law.[11] Delek was listed on the database on account of its "provision of services and utilities supporting the maintenance and existence of settlements" and "the use of natural resources, in particular water and land, for business purposes" in these occupied territories.[12]
On 5 July 2021, Norway's largest pension fund KLP said it would divest from Delek together with 15 other business entities implicated in the UN report for their links to Israeli settlements in the occupied West Bank.[13]
References
- "Delek Group - Investor Relations - Stock Quote and Chart". Archived from the original on 2013-09-06. Retrieved 2011-10-11.
- "China's Fosun International to Acquire Phoenix Holdings From Israel's Delek". Insurance Journal. 22 June 2015. Retrieved 24 June 2015.
- "Delek Petroleum, Ltd". Archived from the original on 2008-12-27. Retrieved 2008-06-20.
- "Jerusalem Post on Karadi". Archived from the original on 2011-09-24. Retrieved 2019-07-21.
- Haaretz: Delek Hires top cop
- "Delek Group Appoints New CEO". Archived from the original on 2019-11-29. Retrieved 2020-01-06.
- The Bob Bey Property Report Archived 2009-01-27 at the Wayback Machine
- "Delek on Dankner". Archived from the original on 2007-12-26. Retrieved 2008-06-20.
- "Press Releases - Starbucks Dissolves Joint Venture with the Delek Group of Israel". Archived from the original on 2014-08-19. Retrieved 2014-08-20.
- "UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory". Office of the United Nations High Commissioner for Human Rights. 12 February 2020. Retrieved 5 July 2021.
- "UN Security Council Resolution 2334, 2016 (S/RES/2334(2016))". United Nations Security Council. 23 December 2016. Retrieved 5 July 2021.
- "Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71)". UN OCHA. 12 Feb 2020. Retrieved 2021-09-12.
- Fouche, Gwladys; Jessop, Simon (5 July 2021). "Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank". Reuters. Retrieved 2021-09-13.