Business news for Tue, 25 Dec 2007 & with words agreed+company. 5 news.

DELEK Real Estate Ltd, the Israeli company that backed out of a US$2.9-billion deal with Jelmoli AG, has agreed to buy 12 Frankfurt-area supermarkets from Metro AG, Germany's biggest retailer, for 243 million euros (US$349 million), Bloomberg News reported on Sunday. Delek, through its Delek Global Real Estate unit, will acquire the buildings from the Real supermarket chain, a subsidiary of Metro, the Netanya, Israel-based company said in an e-mailed statement to the stock exchange. Real will rent 10 of the supermarkets from Delek through 2022, and the other two through 2020, beginning at 16 million euros annually for all the properties. The rent will increase 6.7 percent every five years. "DGRE has again purchased a property with a quality tenant for a long period in a central area, and proved that even in these times it can use its connections to close deals and get good financing," Chief Executive Officer Ilik Rozanski said in the statement. Delek Real Estate, a

HARRAH'S Entertainment Inc has received final regulatory approval needed to complete the largest casino buyout ever, a year after Apollo Management LP and TPG Inc agreed to the US$17.1 billion purchase. The National Indian Gaming Commission approved the acquisition, removing the last regulatory hurdle to the purchase, Las Vegas-based Harrah's said in a statement. The transaction will be completed in early 2008, the company said. Harrah's, the world's largest casino company, received permission from Illinois, Nevada, Indiana and six other regulators in the states where it operates. The buyout firms agreed in December 2006 to acquire Harrah's for US$90 a share, attracted by its real-estate holdings and ability to generate cash, according to Bloomberg News. Indian approval was needed because Harrah's runs tribal casinos. Founded in 1937 in Reno, Nevada, Harrah's owns the Bally's, Caesars and Flamingo casinos in Las Vegas as part of its holdings, most of which are in the United

United Rentals Inc. agreed to accept a $100 million breakup fee from Cerberus Capital Management LP, ending a six-week battle over whether Cerberus could call off a $4 billion acquisition of the largest US equipment-rental company. United Rentals...

TEL AVIV (MarketWatch) -- Ampal-American Israel Corp., the Tel Aviv investment firm, took an option to acquire a 35% interest in a project to produce ethanol from sugarcane from a company controlled by Ampal's chairman, president and chief executive officer. Separately, that company, Merhav, agreed to sell 25% to 35% of the project to Ecopetrol SA of Colombia. Terms of both deals weren't disclosed. Ampal said the move will add to its interests in clean energy and in the broader energy industry. As part of the option deal, Ampal has loaned Merhav $10 million to buy 11,000 hectares (27,000 acres) in Colombia for growing sugarcane and to build the ethanol facility. And Ampal agreed to advance as much as $10 million more to fund the project, it said in a Tuesday statement. Yosef Maiman, who holds the top three posts at Ampal, is sole owner of Merhav. A panel made up of Ampal's independent directors approved the deal. Houlihan Lokey Howard & Zukin advised the board committeee, Ampal said.

United Rentals Inc. agreed to accept a $100 million breakup fee from Cerberus Capital Management LP, ending a six-week battle over whether Cerberus could call off a $4 billion acquisition of the largest U.S. equipment-rental company.