Mega Or Holdings Ltd (TASE:MGOR) signed an agreement to acquire 61.86% stake in Arena Star Group Ltd. (TASE:ARNA) from Asian Service Trade Control Rte. Ltd. (ASTC) for approximately $140 million on December 15, 2019. Completion of the deal is subject to receipt of all customary approvals.

Following acquisition, Asian Service Trade Control committed itself to purchase all of the Arena Star holdings in Macpell Industries Ltd. in exchange for a similar sum owed by the Arena Star to ASTC.