Bloomberg News

Delek Real Estate Soars on Report Citigroup May Take Stake

October 11, 2011

(Updates with closing share price in second paragraph.)

Oct. 11 (Bloomberg) -- Delek Real Estate Ltd. soared to the highest level in more than five weeks after Calcalist reported that a Citigroup Inc. real-estate fund and a Canadian fund are interested in buying a stake in the Israeli property company.

The shares surged 15 percent to 0.217 shekel at the 4:30 p.m. close in Tel Aviv, the highest since Sept. 1.

A number of parties have indicated an interest to invest in the company over the past few weeks, Ramat Gan, Israel-based company said today in a response posted to the Tel Aviv Stock Exchange. The company didn’t name any of the parties.

--Editors: Peter Branton, Wojciech Moskwa

To contact the reporter on this story: Susan Lerner in Jerusalem at slerner2@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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