Bagir Group Ltd. (AIM:BAGR) entered into an agreement to acquire remaining 50% stake in Nazareth Garments Share Company from Kassaye Mekuria Mindesyil, Senait Bekele Zewudu, Lamenew Mekuria Mindesyil and other family members for $1.9 million on February 6, 2017. The consideration will be paid in installments, with $0.6 million being paid immediately on signing the agreement and the balance of $1.3 million to be paid on or before April 30, 2017. Following completion of the acquisition, Bagir will own 100% of the manufacturing site. The acquisition together with the planned investment in the first stage of the expansion plan totalling approximately $3 million will be funded by the net proceeds from the recent fundraising and the Bagir Group's asset backed financial headroom. The acquisition is subject to approvals from certain procedural share registrations in Ethiopia and capital gain tax clearance on the Sellers. Conditions are expected to be satisfied on or before April 30, 2017. Alex Price and Sandy Ritchie of Nplus1 Singer Advisory LLP acted as a financial advisor and Tim Robertson and Toby Andrews of Novella Communications acted as a public relations advisor to Bagir. Bagir Group Ltd. (AIM:BAGR) completed the acquisition of remaining 50% stake in Nazareth Garments Share Company from Kassaye Mekuria Mindesyil, Senait Bekele Zewudu, Lamenew Mekuria Mindesyil and other family members on June 26, 2017.