Delek Group’s acquisition of a stake in a UK North Sea oil and gas operator, Ithaca Energy, has been completed.

Ithaca Energy on Tuesday reported that it had completed the previously announced $66 million equity investment, while the confirmation from Israel’s Delek arrived on Friday. Delek said that it had received all the necessary approvals required for completion.

To remind, it was announced on October 9 that Delek would, through its subsidiary DKL Investments, inject $66 million in Ithaca in exchange for 81,865,425 Common Shares in the capital of the company.

Ithaca Energy on Tuesday also said that, in accordance with the agreement, DKL has nominated Joseph Asaf Bartfeld, President & Chief Executive Officer of Delek, and Yosef Abu, Chief Executive Officer of Delek Drilling Ltd. as Non-Executive Directors and members of the Ithaca Board of Directors with immediate effect.

http://www.offshoreenergytoday.com/delek-completes-ithaca-stake-buy/