E. Schnapp & Co. Works Ltd. (TASE:SHNP) signed an agreement to acquire 50% stake in A.D.I. Stereos & Car Alarms Ltd. from Abraham Zino and Yitzhak Zino for ILS 75 million on August 7, 2016. Half of the consideration will be paid upon completion and the balance will be paid until March 31, 2017. The consideration will be financed through a loan from financing entities and/or through the issuance of shares or debt. E. Schnapp will receive a call option, valid from completion and until January 1, 2022 to acquire all the shares owned by Abraham Zino and Yitzhak Zino at a consideration determined by an external valuator, plus a 20% premium over the share price. Completion is subject to pre-conditions, such as antitrust commissioner approval, cancellation of guarantees in benefit of the existing shareholders, signing of agreements with clients, suppliers and financing entities. The transaction is expected to close on January 1, 2017. As of September 29, 2016, Antitrust Commissioner’s approval has been received.