Delek unit to buy 20% of Ithaca Energy

A subsidiary of Delek Group, Tel Aviv, has signed an agreement to acquire new shares representing 19.9% of Ithaca Energy Inc., Aberdeen, for $66 million.

Ithaca has interests in 11 UK North Sea oil and gas fields and operates three of them, including the Greater Stella Area hub in the Central Graben area (OGJ Online, Apr. 12, 2012).

The Delek subsidiary will become Ithaca’s largest shareholder. Delek said it will consider increasing its interest.

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