April 6, 2017 / 10:55 AM / 6 months ago

Delek raises price for Phoenix stake in deal with Yango

JERUSALEM, April 6 (Reuters) -

* Israel’s Delek Group said on Thursday it was raising the price it wants for a majority stake of insurer Phoenix Holdings in a deal with China’s Yango Group Co after an initial deadline passed.

* Delek said the price for its 52.3 percent stake in Phoenix had risen to 2.152 billion shekels ($590 million) from the initial 1.971 billion shekels.

* The binding deal signed last August set a target closing date of March 31, and Delek said the deal has since been ammended to reflect the new price.

* The last date for completion of the terms for closing has been set as June 4, 2017.

* ($1 = 3.6481 shekels) (Reporting by Ari Rabinovitch)

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