Tel Aviv, July 7, 2020. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces further to the Company's Immediate Reports dated May 7, 2020, June 6, 2020 and July 1, 2020 (ref. nos. 2020-01-045153, 2020-01-057975 and 2020-01-069840, respectively) that on July 6, 2020 the sales transaction was completed for the sale of all the rights of a subsidiary, Delek The Israel Fuel Corporation Ltd (“Delek Israel”) in Pi Glilot Limited Partnership (“Pi Glilot”) and the land on which Pi Glilot operates the fuel terminals in Haifa, Ashdod, Beer Sheva and Jerusalem for a consideration of NIS 720 million paid to Delek Israel at the closing date, as stipulated in the agreement.
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on July 7, 2020.
Delek Group is an independent E&P company with activities in the UK North Sea and the East Mediterranean. Delek Group has significant holdings in the Leviathan and Tamar natural gas reservoirs in the East Mediterranean (Israel's territorial water), with reserves and resources of more than 30 TCF and annual production of approximately 20 BCM. These reservoirs are a major natural gas supplier to the growing markets of Israel, Egypt and Jordan and Delek continues to lead the region’s development into a major natural gas export hub. Through its wholly owned subsidiary Ithaca, Delek Group holds high-quality oil and natural gas assets in the UK North Sea totaling more than 270 million barrels of oil equivalent (boe) and producing about 27 million boe per year. 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 (DLEKG:IT) And its ADRs are traded on the US OTC market (DGRLY:US).
For more information on Delek Group please visit www.delek-group.com
Head of Investor Relations
Delek Group Ltd.
Tel: +972 9 8638443