Leviathan partner Ratio Oil Exploration (1992) LP (TASE:RATI.L) today notified the Tel Aviv Stock Exchange (TASE) that Yitzhak Tshuva-controlled Delek Group Ltd. (TASE: DLEKG) unit Excellence Investments Ltd. (TASE: EXCE), held through Israel Phoenix Assurance Ltd. (TASE: PHOE1;PHOE5) has become a party at interest in the company.
On Thursday, Excellence bought 15.5 million Ratio participating units at NIS 0.647 per unit, for a total of NIS 10 million. Excellence now owns 345 million participating units, amounting to 5.05% of the company. The current market value of the holding is NIS 229 million.
Excellence made the purchases through its provident funds (which now own 173.77 million Ratio units), its mutual funds (which now own 25.17 million Ratio units, and its nostro account (which now own 145.98 million Ratio units).
Phoenix bought seven Ratio participating units at NIS 0.624 per unit, and now owns 4.25 million participating units, giving it a 0.06% stake in the company.
Ratio owns 15% of Leviathan. Delek units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) each own 22.67%, and Noble Energy Inc. (NYSE: NBL) owns 39.66%.
Published by Globes [online], Israel business news - www.globes-online.com - on February 7, 2011
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