Gabay Europe Israel Ltd. (‘Gabay’) entered into an agreement to acquire a 24.82% stake in Tamir Fishman Real Estate Fund Ltd. (TASE:TFRE) from Eliyahu Knepler for ILS 9.5 million on December 14, 2016. Gabay Europe Israel will pay acquire 5.45 million shares in the deal at ILS 1.742 per share. Gabay will transfer the consideration to a designated trust account to be opened by a designated trustee. Simultaneously, the trustee will transfer the shares to Gabay, all in a transaction to be carried outside the stock exchange. As a guarantee, Gabay will transfer to the trustee, within 2 days from the signing of the agreement, an amount equal to ILS 3.5 million. The deal is subject to pre-conditions which are to be fulfilled no later than December 27, 2016. As on January 19, 2017, the completion date has been postponed until January 22, 2017.