OREANDA-NEWS. February 19, 2016. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) further to the immediate report dated June 21, 2015  (Reference No. 2015-01-052224) with regard to the signing of a binding  agreement to sell all of the Company's holdings in the Phoenix Holdings Ltd.  (hereinafter: "the Agreement" and "Phoenix", respectively),  the Company hereby announces that since all the precedent conditions stipulated  in the agreement were not completed, the parties agreed on February 16, 2016, to  terminate the Agreement in accordance with the mechanism set in the Agreement. Each party waived  irrevocably and unconditionally, all claims, liabilities or demands relating to  the Agreement .
The Company is evaluating other options for the sale  of its holdings in Phoenix to potential investors and will report in an  immediate report on any significant developments in connection with the sale  process, as required by law.

About The Delek Group

The Delek Group, Israel's  dominant integrated energy company, is the pioneering leader of the natural gas  exploration and production activities that are transforming the Eastern  Mediterranean's Levant   Basin into one of the  energy industry's most promising emerging regions. Having discovered Tamar and  Leviathan, two of the world's largest natural gas finds since 2000, Delek and  its partners are now developing a balanced, world-class portfolio of  exploration, development and production assets with total gross natural gas  resources discovered since 2009 of approximately 40 TCF.

In addition, Delek Group has a number of  assets in downstream energy, water desalination, and in the finance sector.