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Delek Group Mulls New Company for Energy Holdings to List Abroad 2013-12-31 07:40:43.84 GMT
By Shoshanna Solomon Dec. 31 (Bloomberg) -- Co. says it plans setting up energy exploration activities in new co. that will sell shrs abroad and/or in Israel, according to emailed statement today. * Existing Delek Group shareholders will get one shr in new co. for each existing shr held * Co. to transfer to new entity all its energy exploration activities and those of its Delek Energy, Delek Drilling, Avner units, among others * Co. says move will unlock value for current shrholders, will enable foreign investors exposure to Israel’s energy market: statement * Delek Group will continue to hold its other non-energy holdings, like water desalination, Phoenix Holdings and Delek Europe, Delek Auto and Delek Fuel and others * Strategy to be implemented in 2014 subject to approvals * Co. has 3.6% weight on benchmark TA-25 Index: Bloomberg data
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To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at +972-3-542-7108 or ssolomon22@bloomberg.net
To contact the editor responsible for this story: Claudia Maedler at +971-4-364-1025 or cmaedler@bloomberg.net