An unknown buyer entered into an agreement to acquire approximately 48% stake in Galilee Resources Ltd. from Dolomite Holdings Ltd (TASE:DLMT-M) for ILS 3.1 million on January 17, 2016. Under the terms, consideration of ILS 3.1 million includes full redemption of ILS 0.678 million of loans made by Dolomite Holdings Ltd to Galilee Resources. The consideration amount shall be paid in 43 installments, until June 2019. The transaction is subject to the Court’s approval and other pre-conditions. As of November 24, 2016, Galilee Resources Ltd. received the court approval. The transaction is subject to other pre-conditions. On December 15, 2016, Dolomite Holdings, Galilee Resources Ltd and the additional shareholders of Galilee have signed an amendment to the agreement, as follows: The sides state that, even when the pre-condition has not been fulfilled, and despite the original agreement, they are interested in the continuity of the deal. In light of the decision, the deal will be carried out in stages, instead of the unique stage contemplated in the original agreement. On the first stage, Galilee’s shares will be sold by Dolomite Holdings to Galilee, and on the following stages the deal will follow its original course. On the Second Stage, the trustee will continue holding 19 installments on the 25th of each months, commencing on December 25, 2016 and until June 25, 2019, a total of ILS 0.064 million each, in concept of the sale of the remaining of Galilee’s shares to the remaining shareholders. An unknown buyer cancelled the acquisition of approximately 48% stake in Galilee Resources Ltd. from Dolomite Holdings Ltd (TASE:DLMT-M) on June 15, 2017.