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RoadChef owner denies sale

12 December 2008

Delek Group, the Israeli conglomerate, has denied reports that it plans to sell RoadChef.

In a clarification, Delek instead admitted that it was looking for a business partner to buy some of the equity in the motorway services provider.

In a statement RoadChef said: "In response to recent media reports, RoadChef Motorway Holdings would like to clarify that its owner Delek Group intends to seek an equity partner in its investment in RoadChef."

The statement came in response to a report from Reuters that suggested Delek Real Estate, a unit of Israeli conglomerate Delek Group, plans to sell 1.27 billion shekels ($326 million) worth of properties off in Britain, Canada, Sweden and Israel, including RoadChef.

Delek has been forced into the sale to raise cash to pay off debt.

Union fights RoadChef plans to slash staff terms and conditions >>

Private-equity group Delek Real Estate buys RoadChef >>

RoadChef appoints new chief executive >>
Private equity in the hospitality industry >>
UK's motorway services poor, says report >>

By Rosie Birkett

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