Tshuva Reports Sale of More Shares of US Refining Affiliate Delek US

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/ By Ilan Shavit /

Yitzhak Tshuva’s Delek Group continues to add to its liquidity by selling another block of shares in its American refinery business Delek US Holdings.
With this transaction, it has picked up US$64 million by selling 2 million shares of Delek US shares at an average price of  about US$32 each.
Earlier, in March this year Delek Group also sold 9 million shares of Delek US Holdings for about US$355 million.  With the current sale their total remaining holding falls to about 30% of that company.
Delek US is a publicly listed refinery operator, oil products distributor and convenience-retailer in the United States with a market cap of about US$1.9 billion.
The Delek Group, controlled by Yitzhak Tshuva, has been steadily investing in its offshore natural gas deposits in the Tamar and Leviathan fields off the coast of Israel, which are now just beginning to deliver gas to the Israeli market.
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