Delek Group Ltd. (TASE:DLEKG) North Sea energy exploration and production unit Ithaca Energy (LSE: ITH) has announced that it is in advanced talks with Italian energy major Eni unit Eni UK to buy the rights in its North Sea gas and oil assets. Ithaca would allocate a 38%-39% stake in the company in exchange for the rights and Delek will reduce its stake in Ithaca from 88.55% to 53%-54.9%, if the deal is completed. RELATED ARTICLES Delek jumps on strong Q3 results Delek unit Ithaca given approval to develop North Sea field Ithaca Energy completes London flotation at $2.9b valuation Israeli energy exploration and production company Delek reported revenue of NIS 12.3 billion in 2023, up 2.8% from 2022. Net profit in 2023 was NIS 1.6 billion, down 59.9% from 2022. Delek's revenue in the fourth quarter of 2023 was NIS 3.1 billion while net profit was NIS 79 million after a net loss in the corresponding period of 2022. Delek's executive remuneration in 2023 totaled NIS 56.5 million, of which Ithaca chairman Gilad Myerson received NIS 20.7 million (NIS 10.9 million of which is capital remuneration), NewMed Energy (TASE: NWMD) CEO Yossi Abu received NIS 17.9 million (NIS 11.1 million capital remuneration), and Delek Group CEO Idan Wallace received NIS 8.3, without capital remuneration. Published by Globes, Israel business news - en.globes.co.il - on March 27, 2024. © Copyright of Globes Publisher Itonut (1983) Ltd., 2024.
