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Avner Oil Exploration to merge into Delek Drilling

Avner Oil Exploration to merge into Delek Drilling

Business
Delek Group is an Israeli conglomerate and one of Israel's largest companies, which the majorly owned by Yitzhak Tshuva a self-made multi-billionaire.Delek Group, gas exploration subsidiaries, controlled by Yitzhak Tshuva, Avner Oil and Gas and Delek Drilling, this morning notified the Tel Aviv Stock Exchange (TASE) that an independent committee has recommended a merger between the partnerships, with Avner merged into Delek Drilling.The two subsidiaries control Tamar and Leviathan gas fields in offshore Israel, as well as the Aphrodite gas field in Cyprus.The partnerships reported in April, that they were examining a possible structural change in the group, since they are considered “parallel” units, holding energy assets for Delek Group.The committee recommends a conversio