ISRAELI company Delek Group said today it is in talks over a possible merger of its UK North sea oil business, Itahaca Energy, with an unidentified international energy company.
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In any potentially merged company, Ithaca would hold at least 50% stake, with the intention to turn the combined company into a public firm traded in London, Delek Group said in a statement.
The merger plan under consideration is also expected to include a cash payment that will be transferred to Delek Group and several international banks are part of the talks, the statement added, without giving further details.
