Delek completes purchase of Veridis in Israel
04 Jul 18 by Carl Myers
Delek Automotive Systems (DAS) has completed the acquisition of 70 per cent of desalination and environment company Veridis for ILS 922 million ($252 million), reports Globes.
DAS forms part of Delek Group, which also owns 50 per cent of desalination company IDE Technologies.
The acquisition refers to holding company OCM Luxembourg, which owns Veridis and certain loans provided by its former owner Oaktree Capital Management.
Veridis, originally part of Veolia International, is a partner in operating Ashkelon desalination plant in Israel.
The company was founded in 1993 by Veolia and Uri Starkmann, and operated in Israel as Veolia for 22 years, after which Oaktree acquired it for $450 million.
As well, Harel Insurance Investments and Financial Services acquired 10 per cent of OCM Luxembourg: five per cent from Oaktree; and five per cent by exercising an option of the Israel Infrastructure Fund.
Comments
Login on register to comment
Related content
Desalination
A world leader committed to preserving resources through desalination and reuse
The Group designs
Desalination
Leading expert delivers online masterclass on membrane fouling
There is only one week left to register for this exciting new format of online event and deepen your understanding of membrane fouling in only one hour.
Desalination
Singapore International Water Week Turns 10 Years: Celebrating a Decade of Accomplishment in the Global Water Industry
The Singapore International Water Week (SIWW) is the world's premier platform to connect the water industry for innovative solutions and sustainable urban water management. The biennial event gathers stakeholders from the global water industry to share best practices
Related supplier content
Desalination
Great results with Osmotech® for RO make-up water
Reduction of total operational costs even in limit make up water conditions
Desalination
Great results with Osmotech® for RO make-up water
Reduction of total operational costs even in limit make up water conditions
Desalination
Our Project history
The list is an example of the work successfully completed by SO4 Offshore engineers