Caesar Tonga Transaction - Exercise of Right of First Refusal
Tel Aviv, May 12, 2019. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that further to the immediate report of the Company dated April 11, 2019 regarding the execution of a Purchase Agreement for the acquisition of producing assets in Gulf of Mexico, USA (Reference number 2019-01-032907), the Company hereby informs that on May 9, 2019, the Company received a notice from Shell Offshore Inc. that one of the partners in the Caesar Tonga oil field exercised its preferential right to purchase all the rights in the assets. According to the aforesaid, the transaction for the acquisition of the rights in the Caesar Tonga oil field by the Company has terminated.
The Deposit that was provided to the Seller as part of the consideration for the transaction of USD 50 million will be returned to the subsidiary of the Company.
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on May 12, 2019.
Delek Group is an independent E&P and the pioneering visionary behind the development of the East Med. With major finds in the Levant Basin, including the Leviathan (21.4 TCF) and Tamar (11.2 TCF) reservoirs and others, Delek is leading the region’s development into a major natural gas export hub. In addition, Delek has embarked on an international expansion with a focus on high-potential opportunities in the North Sea and North America. Delek Group is one of Israel’s largest and most prominent companies with a consistent track record of growth. Its shares are traded on the Tel Aviv Stock Exchange (TASE:DLEKG) and are part of the TA 35 Index.
For more information on Delek Group please visit www.delek-group.com