Tel Aviv, February 5th 2007. Delek Group (TASE: DLEKG) announced today that its subsidiary, Delek Capital Ltd. ("Delek Capital") signed an agreement on 4th February 2007 with Barak Capital Ltd. ("Barak Capital") and Mr. Eyal Bakshi (“the Option Agreement") in which Delek Capital receives an option at no cost and for six months to purchase shares in Barak Capital for a total amount of approximately NIS 24 million (approximately $5.7 million) in addition to a shareholders loan, based on the terms outlined in the Option Agreement. Should the above mentioned sale take place, Delek Capital will hold up to 49.9% of the issued and paid up capital of Barak Capital which is active in the financial area, primarily in proprietary trading. Mr. Eyal Bakshi will continue to serve as CEO of Barak Capital.
In addition, Mr. Aharon Cohen, and/or a company controlled by him, received an option to join the business of the Option Agreement, based on terms to be agreed upon between the parties.
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