Delek may distribute real estate unit shares

TEL AVIV, Oct 6 (Reuters) - Israel's Delek Group (DELKG.TA) said on Monday its board of directors has asked management to explore the distribution shares of Delek Real Estate (DLKR.TA) to shareholders of Delek either partly or in full.

This would enable Delek shareholders to hold directly the shares of Delek Real Estate, a subsidiary of Delek Group.

"The company maintains sufficient retained earnings, should the decision be taken to take one of the above mentioned possibilities," Delek said in a statement.

Delek Group owns 79.9 percent of Delek Real Estate, whose shares have been battered in the wake of the global financial crisis.

Delek Group, which has interest in the real estate, energy, automotive and financial sectors, is 62 percent-controlled by billionaire Yitzhak Tshuva.

Tshuva also owns New York's Plaza Hotel through a private company called Elad Group.

Shares in Delek Group were up 8 percent, compared with gains of 0.5 percent in the broader Tel Aviv market.

Delek Real Estate was down 1.1 percent. (Reporting by Tova Cohen; Editing by Quentin Bryar)