TEL AVIV Nov 20 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
In September it sold a 5.05 percent stake in Delek US
Holdings for $76 million.