Israel: Delek Group Increases Investment in Noble Energy, Inc.
Delek Group 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 Inc. (“Noble”) 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.
About The Delek Group
Delek Group is the leading energy & infrastructure group based out of Israel with investments in upstream & downstream energy, water desalination and power plants globally. In addition, Delek is the number one importer & distributor of vehicles in Israel and owns insurance assets in Israel and the US. Earlier this year, Delek Group, through its subsidiaries, discovered significant quantities of high quality natural gas off the coast of Israel. Delek Group sales reached over 43 billion Israeli shekel in 2009.
Source: Delekgroup, August 5, 2010: