Golf & Co Group Ltd (TASE:GOLF) signed a definitive merger agreement to acquire remaining shares in Adika Style Ltd. (TASE:ADKA) for NIS 1.9 million on August 14, 2022. The consideration will be paid as A. "The cash alternative" - consideration in cash only in the amount of NIS 1.38 per share of Adika Style. B. "The combined alternative" - a combined consideration of cash and golf shares worth NIS 1.565 per share of Adika Style. The consideration per share in the integrated alternative includes a component of receiving cash in the amount of NIS 1.105 per share of Adika Style as well as receiving approximately 0.0724 shares of Golf reflecting a value of 0.46 NIS for each share of Adika Style. Nir Dash and Efrat Tzur of Herzog represented Golf as legal advisor in negotiations with the independent committee established by Adika's board of directors. As of September 14, 2022 all conditions are met. Transaction is expected to be completed in the fourth quarter of 2022.

Golf & Co Group Ltd (TASE:GOLF) completed the acquisition of remaining 30.9% stake in Adika Style Ltd. (TASE : ADKA) on November 14, 2022.