The Delek Group is one of the largest and most dynamic investment groups based in Israel, whose diverse activities include Israel’s second largest petroleum company, a major car importer (Mazda and Ford), one of Israel’s biggest real estate companies and petroleum activity in the U.S.A. The Group is a holding and management company with a diverse operational spectrum investing in Israel and abroad. The Group is a market leader in all its chosen diversified fields of operation: energy exploration and marketing, real estate, motor vehicle importing, finance and insurance services, biochemicals and media. Delek Group owns and operates 228 petrol stations. Yitzhak Tshuva has a 62 percent majority share in Delek Group with the balance held by the public. In 2007 Delek Group (Delek Israel – Delek Group owns 79.2% of Delek Israel) won the tender for the purchase of Pi-Glilot at the relatively high price tag of 800 million shekels, rendering Delek the 3rd largest player in the country’s energy industry. This will enable the company to decrease its dependency on one of the oil refineries by being able to import greater quantities of fuel at lower prices and compete against the other fuel companies such as Paz and Alon. The Pi-Glilot tankers have a capacity to store 600,000 kiloliters of fuel or 40% of the market’s overall capacity. In addition, at a relatively low cost Delek could increase Pi-Glilot’s Ashdod storage capacity and thus represent a real competition for all other fuel companies to the Ashdod Oil Refinery that was bought by Paz. Delek Group subsidiary Delek Energy Systems has acquired full ownership of US energy company Elk Resources Inc. for $95 million. Elk will serve as its administrative and operations platform to expand oil and gas exploration and production in the US. The company plans to invest $100 million in 2008-10 to develop Elk’s proven undeveloped oil and gas reserves. 11th Feb – Delek Energy completed the purchase of Elk Resources at a total cost of $95.5 million. Delek intends developing Elk’s oil and gas resources. In September 2009 Tshuva sold 147,200 shares from Delek Group for 93.4 million shekels. He thus remains with 7,388,543 shares worth about 62.77%.

On 29th December 2009, Delek Group bought NIS 15 million of units in the Delek Drilling and Avner Oil and Gas limited partnerships. Delek Group now owns 12.94% of Avner, and 6.79% of Delek Drilling. In March 2010, Delek Group increased its holdings in Avner by buying 2.1 million participation units in Avner for 1.53 shekel per unit thus for a total of 3.2 million shekels thus Delek increased its hold in Avner to 13.25%.