IN BRIEF: Delek Group sells £60 million in Ithaca Energy shares

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Ithaca Energy PLC - London-based oil and gas operator in UK North Sea - DKL Energy Ltd sells 59.4 million Ithaca Energy shares at 102 pence each, worth £60.5 million, on Tuesday. The sale to existing and new Ithaca Energy investors is part of the commitment made by Delek Group Ltd, DKL Energy’s owner, to reduce its stake in Ithaca following Ithaca’s acquisition of substantially all of the UK upstream oil and gas assets of Italian oil major Eni Spa. The commitment was to ensure that at least 10% of Ithaca’s enlarged share capital remains in public hands. DKL Energy held a 88.5% stake in Ithaca Energy as of August.

Current stock price: 106.20 pence, down 2.4% in London on Tuesday

12-month change: down 39%

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