Seeking Alpha

Delek Group to cut stake in Delek US to 9.8%

  • Israel's Delek Group (DGRLY) says its stake in Delek US Holdings (DK) will fall to 9.8% and it will raise 954M shekels ($276M) from the sale of 9.2M shares.
  • Delek Group, which owns stakes in the giant Tamar and Leviathan natural gas fields off Israel's Mediterranean coast, has been seeking to divest other holdings to raise funds.
  • Also, Delek US announces the pricing of the secondary offering at $30/share.
  • DK -2.5% premarket after falling 3.3% during yesterday's trade.
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