Ultra Equity Investments Ltd. entered into an agreement to acquire 45.1% stake in Greenstone Industries Ltd. from Leader Holdings and Investments Ltd. for ILS 50.7 million.
In the event of certain exit events related to Greenstone's holdings in R.V.B. Holdings Ltd., including the sale of the R.V.B. Holdings's shares held by Greenstone, occurring during the five year period following the closing date of the transaction, in the event the consideration received by Greenstone at such exit event exceeds ILS 10 million, Ultra shall be required to pay Leader an additional consideration according to the terms of the transaction. The closing of the transaction is subject to the satisfaction of certain condition precedents.