Emilia Development (O.F.G) Ltd. (TASE:EMDV) signed an agreement to acquire 51% stake in Mendelson Infrastructures & Industries Ltd. (TASE:MNIN) from Netz Group Ltd. (TASE:NETZ), Ronko Capital Industries Ltd., RNKI Assets Limited Partnership for ILS 99.5 million in cash on December 6, 2015. Under the terms of the transaction, the offer per share is ILS 5.8326. The transaction is subject to the fulfillment of pre-conditions no later than January 31, 2016. The conditions include approval of Funds Manof Origo 1 Limited Partnership, Manof Origo 2 Limited Partnership and Origo Investments G.P. Ltd. to release an existing pledge over the shares, commissioner's approval of the transaction, approval of the funding banks, which will fund the transaction, entry into effect of an agreement dated December 15, 2013, between Mendelson and Kibbutz Tzara to acquire a property, in order to develop a logistics center to Mendelson on the Kibbutz and the extension of the management agreement with Shargah Bar, Mendelson Chief Executive officer. On January 5, 2016 the necessary regulatory approvals were received. As of January 28, 2016, all pre conditions were fulfilled. The closing will occur on January 31, 2016.

Shimonov & Co. acted as the legal advisor for Emilia Development (O.F.G) Ltd. and Netz Group Ltd.

Emilia Development (O.F.G) Ltd. (TASE:EMDV) completed the acquisition of 51% stake in Mendelson Infrastructures & Industries Ltd. (TASE:MNIN) from Netz Group Ltd. (TASE:NETZ), Ronko Capital Industries Ltd., RNKI Assets Limited Partnership on January 31, 2016.