Delek Buys BP Gas Stations for $33.5 Million

NASHVILLE, Tenn. -- Delek Group Ltd. announced that its subsidiary, Delek US Holdings, had bought the rights in 25 gas stations and convenience stores in Nashville, Tenn., from British energy giant BP for $33.5 million, not including inventory, reported Globes online. The deal is expected to be closed in December.

The contract involves ownership rights to 20 gas stations, and leasing rights to five more. It also includes four other real estate properties slated for gas stations and convenience stores, including ownership rights for three properties and leasing rights for one property, according to the report.

Delek added in the report that the gas stations and convenience stores would continue to operate under the BP brand.

In its financial report for the second quarter of 2005, Delek said that Delek US Holdings owned 328 gas stations in Tennessee, Alabama and Virginia under the Mapco Express brand. Delek also reported that the profit of its Texas oil refinery jumped to $72 million for the second quarter, reported Globes.