Tshuva sells Delek US shares for $71.5m
Delek Group unit Delek Petroleum sold three million Delek US shares after the markets closed on Thursday at $23.85 per share.
The sale reduces Delek Petroleum's stake in Delek US to 36,736,432 shares, or 62.9% of the company. Delek Petroleum's expects to report a pretax profit of NIS 134 million on the sale in the third quarter.
Delek US's share price fell 11.8% on the New York Stock Exchange on Friday to $22.99, giving a market cap of $1.35 billion, and Delek Group's share fell 2% in morning trading on the TASE to NIS 581.50, giving a market cap of NIS 6.7 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on August 12, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012
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