OREANDA-NEWS. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that on April 18, 2016 it  completed the transaction for the sale of all the Company's holdings (66%) in  Republic Companies Inc for an overall consideration of NIS 532 million (about  USD 140 million) to AmTrust Financial Services Inc (“the Purchasers"),  after all the approvals were received for completion including regulatory  approvals.

NIS 133 million  (about USD 35 million) of the consideration has been paid in cash at the  completion date and the balance in the sum of USD 105 million was made  available to the Purchasers by the Company as a seller's loan for a period of 4  years that will be repaid in 4 equal installments and bear annual interest of  5.75%.

As a result of  completion of the transaction the Company is expected to recognize a profit of  NIS 18 million, which will be attributed to the income statement.  
For further details  concerning the transaction, see section 1.14.2 of the Company's 2015 Periodic  Report dated March 31, 2016 (ref. no. 2016-01-020628).

This is a convenience translation of the original HEBREW immediate  report issued to the Tel Aviv Stock Exchange by the Company on April 19, 2016.

About The  Delek Group

The Delek Group, Israel's dominant integrated energy company, is  the pioneering leader of the natural gas exploration and production activities  that are transforming the Eastern Mediterranean's Levant Basin  into one of the energy industry's most promising emerging regions. Having  discovered Tamar and Leviathan, two of the world's largest natural gas finds  since 2000, Delek and its partners are now developing a balanced, world-class  portfolio of exploration, development and production assets with total gross  natural gas resources discovered since 2009 of approximately 40 TCF.

In  addition, Delek Group has a number of assets in downstream energy, water  desalination, and in the finance sector.