May 18, 2014 / 7:40 AM / 4 years ago

Delek Group sells more shares in Delek US for 140 mln shekels

JERUSALEM, May 18 (Reuters) - Israeli conglomerate Delek Group raised 140 million shekels ($40.47 million) after underwriters of a secondary share offering exercised an option to buy 1.38 million shares in subsidiary Delek US Holdings.

Delek Group’s stake in Delek US will drop to 7.5 percent, the company said on Sunday.

On Thursday Delek Group said its stake in Delek US fell to 9.8 percent after it sold 9.2 million shares in a secondary offering.

Delek US has assets in petroleum refining, logistics and convenience store retailing. Delek Group, which owns stakes in the giant Tamar and Leviathan natural gas fields off Israel’s Mediterranean coast, has been seeking to divest other holdings to raise funds.

$1 = 3.4595 Israeli Shekels Reporting by Ari Rabinovitch

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