Delek Said to Be in Talks to Sell Phoenix Stake to AmTrust

  • Israeli firm said it was in talks with U.S. company Thursday
  • Deal said to value Phoenix stake at 1.7 billion shekels

Delek Group Ltd., Israel’s largest energy company, has signed a non-binding letter to sell a stake in its insurance unit to AmTrust Financial Services Inc., according to people familiar with the matter.

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