RAMAT GAN, Israel -- EZ Energy Ltd. has signed an agreement to buy 15 gas stations and conveniences stores on the U.S. East Coast for $15 million, reported Israeli newspaper Globes Online.
In separate transaction, EZ Energy said that it had exchanged draft contracts to buy three clusters of stations and c-stores for $90 million. The 60 unidentified properties in this deal have an annual turnover of $215 million on 300 million liters of fuel products, said the report.
The 15 unidentified properties have an annual turnover of $55 [image-nocss] million. The company also has an option to buy an office building, land and fuel tanks adjacent to one gas station for $1.75 million.
EZ Energy added that the unnamed seller was in talks with third parties to buy an additional gas station for $1.25 million. If that deal is closed, the company said it would be given an option to buy the station for the same amount.
Sources told Globes that EZ Energy is also in negotiations to buy properties in the United States and Western Europe. The company has also reportedly been offered properties in Israel, but prefers investing overseas, the report said.
EZ Energy plans to finance the pending U.S. real estate purchases with loans from U.S. banks, the newspaper added. On the basis of the company's cash, the banks will provide more than 90% of the financing needed.
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