UPDATE 1-Fosun executives to meet Delek in Israel more than Phoenix deal

(Releads with Delek statement on Fosun meetings)

TEL AVIV Dec 13 Representatives of Fosun International will arrive in Israel in the coming days to discuss the procedure of its agreed deal to buy handle of Israeli insurer Phoenix Holdings from Delek Group .

Delek mentioned in a statement to the Tel Aviv Stock Exchange on Sunday that it would issue additional statements on any developments associated to the sales process.

The stock exchange on Sunday suspended trading in Delek and Phoenix due to events connected to Fosun, which mentioned on Friday its Chairman Guo Guangchang, a single of China’s very best-recognized entrepreneurs, was assisting authorities with an investigation, soon after an earlier report mentioned the group lost make contact with with its billionaire founder.

Following Delek issued its statement, the stock exchange mentioned trading in the shares would resume at 0939 GMT.

Delek, one of Israel’s major conglomerates, in June agreed to sell its 52.31 % stake in Phoenix to Fosun for 1.eight billion shekels ($ 467 million). ($ 1 = three.8545 shekels) (Reporting by Tova Cohen. Editing by Jane Merriman)