Israel's Delek Group Buying Shares In Foreign Energy Companies


TEL AVIV, Dec 3 (Reuters) – Israeli energy firm Delek Group said on Wednesday it purchased 680 million shekels ($170 million) worth of shares in foreign oil and gas companies.

"The company plans to continue to buy such financial assets using bank credit and its own resources and when the company reaches a significant stake in any of these companies it will make an announcement," Delek said in a statement to the Tel Aviv Stock Exchange.

Delek, Israel's largest energy group with significant stakes in Israel's two giant offshore natural gas fields, did not disclose the names of the companies in which it acquired shares.

(1 US dollar = 3.9937 Israeli shekel)

(Reporting by Tova Cohen; Editing by Steven Scheer)

Copyright 2016 Thomson Reuters. Click for Restrictions.


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