|Delek Group Sells 5% of Delek US for Approx. NIS 285million|
Tel Aviv, August 12, 2012. Delek Group (TASE: DLEKG, OTCQX: DGRLY) (“the Company”) reported that on August 9, 2012, following the close of trade at the New York Stock Exchange, the Company’s subsidiary, exercised a transaction outside of the stock exchange to sell a portion of its holding in Delek US Holdings Inc. (“Delek US”) to a foreign financial institution.
Following the sale the Company, through its subsidiary, holds 36,736,432 shares in Delek US, representing approximately 62.9% from the equity shares of Delek US. The above mentioned sale reflects an accounting profit (before tax) of approximately NIS 134 million ) that will be reflected in the third quarter results as an increase in equity for its share in equity fund from deals with rights owner that do not provide control.
This is a convenience translation of the recent HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on August 12, 2012.
About The Delek Group
The Delek Group, Israel’s dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean’s Levant Basin into one of the energy industry’s most promising emerging regions. Having discovered Tamar and Leviathan, two of the world’s largest natural gas finds since 2000, Delek and its partners are now developing a balanced, world-class portfolio of exploration, development and production assets with total gross natural gas resources discovered since 2009 of approximately 33 TCF .