Delek Israel Secures Full Control of Zappa Group After Antitrust Approval
The Israel Competition Authority approved Delek Israel's acquisition of Eventim's stake in the Zappa entertainment group in a two-stage 29 million NIS deal.
The Israel Competition Authority, headed by Michal Cohen, approved the acquisition deal regarding the Zappa entertainment group. Under the agreement, Delek Israel takes over Eventim's entire stake in Zappa in a two-stage transaction.
The Transaction Structure and Financials
In the first stage, Delek Israel will pay 20 million NIS to Eventim for its 40.5% stake in Zappa clubs, increasing Delek's control to 81%. The remaining 19% is held by businessman Golan Einat. In the second stage, Delek will pay an additional 9 million NIS for Eventim's 61% stake in Newco, the company responsible for ticket sales, data management, and the Zappa website.
"Eventim operates without transparency, has substantial irregularities, and fails to transfer funds due to the company on time," Delek Israel stated in its legal filings.
Legal Disputes and Market Impact
The approval comes after a period of intense legal disputes and mutual accusations between Delek Israel and Eventim regarding company management. In early 2025, Delek sued Eventim, claiming that management friction led artists to abandon Zappa venues. Although both parties later withdrew their lawsuits, the internal crises severely impacted Zappa, which suffered a loss of 23 million NIS and an equivalent capital deficit for the 2024 financial year.
