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Partner runs the Roadchef not fulfill his commitment. Fuel quietly cool math games changed the contract with real estate, and concealed cuts prevented the failure. Do investors have to know this? Authority shall
A number of questions first exposed Calcalist ", and relate to the transaction in which Delek Real Estate in the chain of convenience stores and gas stations Roadchef British. This is the same network controlling shareholder Yitzhak cool math games Tshuva plans to bring into the Delek Group deal of interest. Before such a transaction will executed , advised investors to pay attention to some details that may affect the feasibility of the transaction.
In March 2007 by Delek Real Estate (75%) and Delek Group (25%), the company which holds the MSA Roadchef. GBP were real estate covers an area of 2,400 hectares. The purchase was made for 150 million pounds in cash, and buyers also took undertake the obligations of the MSA to the holders in the UK, amounting cool math games to 210 million pounds.
First year EBITDA set a minimum threshold of 28.5 million pounds, the second year of the threshold set 29, and for the third year it was decided that the income will be minimum 30. For the next few years, it was decided that the income will grow a million pounds a year, until the fifth year, it will reach a maximum of 32 million pounds.
So far, fuel introduced Roadchef estate presentation that produces EBITDA of 30 million pounds a year - which is the agreement which the operator has undertaken. However, in practice it turned out that already in the first year Roadchef failed to reach the minimum income stipulated in the contract, and the operator cool math games refused to fuel real estate the difference.

But the third quarter of 2009 was no longer possible to delay the fuse of the bomb case: Delek Real Estate reported quarterly in its reports that the British operator's obligations already amount to approximately 84 million, and admitted that she will not be able to collect the debt.
In late 2008, when Illica Rozanski served more Delek Real Estate CEO, he tried to sell the Roadchef tender, and hired Rothschild Bank to accompany the process. At that time the estimates were made for fuel Roadchef estate will receive 150 million pounds, and the buyer will assume the debt - who was then at about 210 million pounds.
Meanwhile, as was evidenced by the recent moves of the Authority, it seems she was not going to ease the real estate company of Yitzhak Tshuva.
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