TEL AVIV, June 29 (Reuters) - Israeli conglomerate DelekGroup said on Sunday its subsidiary Delek EuropeHoldings signed an agreement to sell Delek Europe BV to aforeign fund for 355 million euros ($484 million).
Delek said 180 million euros would be paid in cash in twoequal instalments while the seller would extend a loan to thebuyer for the remaining 175 million. The loan would be repaidwithin five years and three months with interest of 5 percentannually.
In April Delek said it had signed a memorandum ofunderstanding for the sale of Delek Europe BV.
The deal is subject to regulatory approval, Delek said in astatement. The name of the buyer was not revealed.
Delek Europe was established in 2007 and made two bigacquisitions: the operations of Chevron Corp in Belgium,the Netherlands and Luxembourg; and the operations of BP PLC in France. BP France's operations included hundreds offuel stations and convenience stores and holdings in three fuelstorage and marketing terminals.
($1 = 0.7331 Euros) (Reporting by Tova Cohen)