TEL AVIV, Israel -- Arcadi Gaydamak has closed a deal to buy into Petro Group Ltd., which operates gas stations in the United States, reported Israeli newspaper Ha'aretz.
The Russian-Israeli billionaire is buying 65% of Ameris Holdings, which owns 51% of Petro Group, formerly known as Gmul Energy, for NIS 170 million ($42.5 million U.S.).
Petro Group operates 144 convenience stores in the eastern United States, and also supplies gasoline to 135 other gasoline operators, some of which sublease stations from it. GPM Investments LLC, a subsidiary of Petro Group, is the parent [image-nocss] company of the Fas Mart/Shore Stop c-store chains, Mechanicsville, Va.
Other shareholders in Petro Group, aside from Ameris with its 51% stake, are Financitech (12.43%), Clal Insurance (7.3%), DS Investments (5.4%) and Prisma (5.7%).
Ameris is controlled by Kital Holdings & International Development, 33% owned by Levi Kushnir and others. Gaydamak also received an option to buy the remaining 35% in Ameris within a year of closing the transaction for the controlling interest, for $21.9 million U.S.
The deal is expected to close by July 3, the report said.
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