Delek said it informed a contracted bank of the early completion of the sale of 12.5 million Phoenix shares and the release to the company of 82 million shekels ($23 million) in cash that was pledged to the financial institution to secure the transaction.
They shares were sold in an off-exchange transaction for 213.75 million shekels, the company said.
Delek said it still has two swap transactions, each for 6.25 million shares, representing another 5% of Phoenix.
Delek has been hard hit by the coronavirus outbreak and drop in global oil prices and has been selling assets to raise funds.
($1 = 3.5013 shekels)
Reporting by Ari Rabinovitch; Editing by Tova Cohen