Following the deal, which will see Delek buy over 81 million shares for C$1.05 ($0.80) per share, the Israeli gas player will own 19.9% of London-listed Ithaca.
In return, Ithaca, whose shares were up 12% in London on Friday, said it would use Delek's investment “to strengthen its balance sheet, reduce debt and pursue value-accretive satellite opportunities in the Greater Stella Area on the UK continental shelf".
“We
