Business

Larry Mizel in advanced talks to buy Karish, Tanin

The US businessman could close a deal to buy the two small Israeli offshore gas fields from Delek by August.

Published

July 4, 2016

Sources inform “Globes” that US businessman Larry Mizel is in advanced talks to buy Israel’s Karish and Tanin gas fields. Both fields are currently owned by Delek Group Ltd. controllerd by Yitzhak Tshuva. The final version of the gas outline agreement, authorized by the cabinet in May, stated that these fields will be sold to a third party within 14 months.The Karish and Tanin fields total 60-80 billion cubic meters (BCM) of gas and so far more than NIS 700 million has been invested in them. The fields were owned by Delek and Noble Energy until Delek acquired Noble’s 47% share of the fields in November 2015 in order to follow the schedule for field sale set out in the outline agreement. The stake wassold for $67 million.Read the full story at Globes by Hedy Cohen

In this article:Yitzhak Tshuva, Delek Group, Finance

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