Delek Group announced agreement with the Alpha Water 2 Limited Partnership for the sale of 30% of the shares of I.D.E. Holdings Ltd, on February 28, 2019 all the contingent terms stipulated in the agreement were fulfilled, including receipt of the required approvals, and accordingly the transaction that was the subject of the agreement was completed.

The overall consideration received by the company for the shares is NIS 350 million (US$ 97.07 million), and in addition up to the date of completion of the transaction dividends of NIS 180 million (US$ 49.92 million) were received. In total, the Company has received NIS 530 million(US$ 147 million).

Following completion of the transaction the company continues to hold 20% of the shares in IDE.

Delek group is assessing the accounting implications of the transaction, including the accounting treatment of the balance of its investment in IDE shares. Delek group estimates that the expected profit from the disposal of the shares sold at this stage is NIS 150 million (US$ 41.60 million).