JERUSALEM, May 4 (Reuters) -
* Israel's Delek Group said on Thursday it has
boosted its stake in Ithaca Energy to 94.2
percent following a tender offer that expired on Wednesday.
* Delek offered C$1.95 ($1.42 )per share for the North Sea
* Last month it paid $350 million for 70.23 percent of
Ithaca's issued and common shares to bring its stake to 76
* The deal, announced in February, valued Ithaca Energy's
equity at $646 million, and builds on Delek's expansion in the
North Sea ahead of a planned London listing.
* "Delek Group is implementing the strategy it set itself
and today has become an international energy group," said Delek
CEO Asaf Bartfeld. "Ithaca's enormous potential and its
operational capabilities in drilling, particularly in deep
waters, enhance Delek Group's capabilities and firmly
establishes the group's operational arm."
($1 = 1.3738 Canadian dollars)
(Reporting by Steven Scheer)