Israel's Delek Group sells rest of auto unit for $78 million [Reuters]
DELEK GROUP ADR (DGRLY)
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ir.delek-group.com/investor-relations
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Source: Reuters
Israel's Delek Group sells rest of auto unit for $78 million JERUSALEM (Reuters) - Israeli conglomerate Delek Group DELKG.TA said it was selling its remaining 14.99% stake in its Delek Automotive unit to an unnamed third party for 269 million shekels ($78 million). In a regulatory filing in Tel Aviv on Wednesday, Delek — which has been selling off holdings not related to its core fuel and energy business — said the deal would be completed by the end of the day. Earlier this week, Delek sold a 7% stake in Delek Automotive — which imports and sells Mazda, Ford, Lincoln and BMW vehicles — to its controlling shareholder, Gil Agmon, for 135 million shekels. Agmon holds 45% of Delek Automotive. As a result of the deals, Delek said it would post a gain of 117 million shekels in fourth-quarter results.
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