Israel’s Delek Group enters North Sea

10 Oct 2015   Israel

Israeli energy company Delek Group said it was wading deeper into the international market by taking on stake on Ithaca Energy, which operates in the North Sea. “This is an important strategic step for Delek Group through expanding its operations and strengthening its position on the international market,” Chief Executive Officer Asi Bartfeld said in a statement. “We intend to continue to take advantage of opportunities in the markets and to examine further strategic investments in international companies in the energy field.” For a total consideration of $66 million, Delek said it was taking on a 20 percent stake in Ithaca in a deal that includes a potential for two seats on Ithaca’s board of directors. Ithaca’s […]

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