|Sale of Holdings of The Phoenix – Rescission of Yango Agreement|
Tel Aviv, June 26, 2017. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces further to the Company's immediate reports dated May 3, 2017 (Ref. 2017-01-044700) and April 6, 2017 (Ref. 2018-01-038103), and section 1.9 in the Company's periodic Report for 2016 as published on March 30, 2017 (Ref. 2017-01-033078), in connection with the agreement for the sales of holdings of The Phoenix Holdings Ltd. ("The Phoenix") to Yango Investment Pte Ltd. ("Yango"), the Company hereby announces that in view of prolongation of the proceeding for receipt of approval to transfer control in The Phoenix to Yango, the parties agreed today, June 26, 2017, on rescission of the agreement in accordance with the mechanism laid down therein, and each party irrevocably and unconditionally waives any allegation, claim or loss in connection with the agreement.
The Company has received new inquiries from both Israeli and foreign entities in connection with sale of The Phoenix's holdings, and will continue to work to sell its holdings as required by law.
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on June 26, 2017.
About The Delek Group
Delek Group is an independent E&P and the pioneering visionary behind the development of the East Med. With eight consecutive finds in the Levant Basin, 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.