Delek Increases Investment in Noble Shares
Delek has announced that in reference to the immediate reports dated August 19th, 2009 and July 8, 2010 the Company's Board of Directors decided on August 4th, 2010 to increase its investment in Noble Energy shares to amount up to approx. 4% of Noble's issued and outstanding shares.
Additional acquisitions (in the amount of approx. 1% of Noble's issued and outstanding shares) are designed to be made at the Company's management's discretion, from time to time, in an investment which will not exceed $140 million. It should be noted, that as of August 4th, 2010, the Company holds approx. 2.7% of Nobles' issued and outstanding shares in amount totaling about $307 million.
At the same time, the Company is handling a negotiation with banking institutions to increase the Company's non-recourse credit to finance the investment, as outlined in this immediate report.
This is a convenience translation of the HEBREW immediate report issued to the Tel Aviv Stock Exchange by Delek Group on August 4, 2010.