Tel Aviv, July 1, 2018. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that pursuant to what was stated in section 1.10 of the Company's Periodic Report to December 31, 2017 that was published on March 28, 2018 (ref. no. 2018-01-031177) concerning the agreement for the sale of Group’s holdings in The Phoenix Holdings Ltd to the international insurance company Sirius International Insurance Group, Ltd (“Sirius” and “the Agreement”, respectively), as of this date the required regulatory approvals stipulated in the Agreement have not been obtained; these were conditions for completion of the transaction, and therefore according to the Agreement on July 2, 2018 the period for completion of the conditions ends and the Agreement will be null and void.
The Company will continue to act to dispose of its holdings in The Phoenix.
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on July 1, 2018.
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