Israel's Delek Sells Stake in Infrastructure Unit at $206 mln Value

Israeli energy conglomerate Delek Group said on Monday it was selling 60 percent of its infrastructure unit to Israeli private equity firm Fortissimo Capital at a value of $206 million.

The non-binding memorandum signed by the companies would see Delek keeping 40 percent of the shares in Delek Infrastructures.

Fortissimo will pay $40 million in cash at the deal's closing, while the rest will be structured as a loan from Delek to Fortissimo.

Delek Infrastructures owns 50 percent of IDE Holdings, a company that builds desalination plants globally.

The firms said they would work to raise debt of $80-100 million. 

Reporting by Maayan Lubell