Israel's Delek sells 3.7 pct of Delek US Holdings for $57 mln
TEL AVIV Nov 20 (Reuters) - Israel's Delek Petroleum sold a 3.7 percent stake in U.S. subsidiary Delek US Holdings Inc for $57 million to a foreign financial institution, the company said on Tuesday.
Delek sold 2.2 million shares in the U.S. oil refiner for $25.85 a share after Monday's close of trade in New York, the company said in a statement. Delek US shares closed up 1.5 percent at $26.01 on Monday.
Following the deal Delek Petroleum, a subsidiary of Israeli energy and insurance conglomerate Delek Group, still holds 53 percent of Delek US.
Delek Petroleum will book a pretax accounting gain of 104 million shekels ($26.5 million) from the sale that will be reflected in the fourth quarter as an increase in its shareholders' equity.
In September it sold a 5.05 percent stake in Delek US Holdings for $76 million.
- Tesla says in talks with BMW over car batteries, parts
- Exclusive: China ready to cut rates again on fears of deflation - sources
- Actor Dwight Henry eyed in New Orleans killing after arrest for theft
- China building South China Sea island big enough for airstrip: report
- Suicide bomber kills 45 at volleyball match in Afghanistan
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video