Tuesday, April 25, 2017

Delek Group looks to sell 10 pct stake in Tamar gas field - REUTERS AFRICA

Tue Apr 25, 2017 11:07am GMT
Ari Rabinovitch

JERUSALEM, April 25 (Reuters) - Israeli conglomerate Delek Group said on Tuesday it intends to sell up to a 10 percent stake in the large offshore field Tamar, Israel's main supply of natural gas.


Delek Group subsidiaries Delek Drilling and Avner Oil will each sell up to five percent of their stakes in Tamar, as well as the smaller field Dalit.

Delek said in a statement a new corporation will be set up that will sell securities, including bonds, on the Tel Aviv bourse, to raise money to buy the stake in the gas fields.