TEL AVIV, Israel, May 4, 2017 /PRNewswire/ --
Delek Group (TASE: DLEKG, US ADR: DGRLY) (the "Company") announces that pursuant to what was stated in section 1.7.21 (b) of the Company's Periodic Report for 2016 that was published on March 30, 2017 (ref. no. 2017-01-033078) ("the Periodic Report") and to the Company's Immediate Report dated April 21, 2017 (ref. no. 2017-01-041511) concerning the offer to acquire the entire common stock of Ithaca Energy Inc. (the "Offer" and "Ithaca", respectively), the Company announces that on May 3, 2017 the mandatory extension period of the offer has expired.
Following payment of the consideration for the shares deposited during the extension period, the Company will hold (through DKL Investments Limited, a foreign wholly-owned subsidiary of the Company) 94.2% of Ithaca's issued common stock.
Asaf Bartfeld, President & CEO, Delek Group: "Delek Group is implementing the strategy it set itself and today has become an international energy group. Ithaca's enormous potential and its operational capabilities in drilling, particularly in deep waters, enhance Delek Group's capabilities and firmly establishes the Group's operational arm. We will continue to work with Ithaca's highly professional management team, which has led it to success with its oil and gas assets."
For the Ithaca announcement, see Ithaca's website: http://www.ithacaenergy.com.
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on May 04, 2017.
About The Delek Group
The Delek Group, Israel's leading 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 40 TCF.
In addition, Delek Group has a number of assets in downstream energy, water desalination, and in the finance sector.
For more information on Delek Group please visit http://www.delek-group.com
Head of Investor Relations
Delek Group Ltd.
Head of Communications
Delek Group Ltd.
Tel : +972-9-863-8444
SOURCE Delek Group Ltd