Delek Group climbs to record highs on unit share sale

|About: Delek Group Ltd. ADR (DGRLY)|By:, SA News Editor

Delek Group (DGRLY.PK +5%) shares rise to record highs after the Israeli energy company said the sale of shares in Delek US Holdings (DK +1.1%) would result in a profit and on bets an offer to buy the outstanding stock in another subsidiary will succeed.

The sale of Delek US shares "is generating significant profit" in the company, an Israeli analyst says.

Delek Group, whose interests include the offshore Leviathan and Tamar natural gas sites, closed at 1,112 shekels, the highest level since listing on the Tel Aviv exchange in 2000.