Argo Capital Management Ltd. agreed in principal to acquire 99.91% stake in Bank Leumi Romania S.A. from Bank Leumi le- Israel B.M. (TASE:LUMI) on January 3, 2018. Argo Capital Management Ltd. entered into an agreement to acquire 99.91% stake in Bank Leumi Romania S.A. from Bank Leumi le- Israel B.M. on June 14, 2018. For the year 2016, Leumi Romania posted a net profit of RON 11.8 million. The transaction is subject to further negotiations, due diligence, antitrust and regulatory approvals. As on June 14, 2018, the transaction has been approved by the Board of Directors of Bank Leumi le- Israel. As on September 6, 2018, the transaction will be looked into by the Competition Council of Romania. The transaction is not expected to have any significant impact on the financial results. Argo Capital Management Ltd. cancelled the acquisition of 99.91% stake in Bank Leumi Romania S.A. from Bank Leumi le- Israel B.M. (TASE:LUMI) on February 19, 2019. The final date for satisfaction of the conditions precedent has passed therefore the agreement has expired.