Chinese investment giant Fosun International has reached an agreement with Israel's Delek Group to buy the latter's 52 percent controlling stake in Israel's insurer Phoenix Holdings.

The purchase is worth 471 million U.S. dollars and it will value Phoenix at about 902 million U.S. dollars.

The sale is subject to regulatory approval.

The transaction adds to growing interest from Chinese investors in Israeli companies.

Last week, Chinese investment firm Xio Group agreed to buy Israel's Lumenis for about 510 million U.S. dollars.