O. Feller Holdings Ltd. agreed to acquire Emilia Development (O.F.G) Ltd. (TASE:EMDV) in a reverse merger transaction on April 6, 2017. Under the terms of the deal, Emilia Development will acquire O. Feller Holdings from Oded Feller and issue 24.2 million shares as consideration. Upon completion of the transaction Oded Feller through O. Feller Holdings Ltd. will hold 94.6% stake in Emilia Development pre-offering. As part of the deal Oded Feller would carry out a secondary public offering, under which it would offer to the public, under a Shelf offering report, 1.2 million shares of Emilia Development, which would diminish his stake in Emilia Development to about 90%. The Audit Committee of Emilia Development approved the deal on April 6, 2017. The transaction was approved by the Emilia’s Board on May 16, 2017 and General Meeting of Shareholders of Emilia on May 23, 2017. Shimonov & Co. acted as legal advisor and BDO Ziv Haft and Deloitte Brightman Almagor Zohar acted as accountants to Emilia Development. O. Feller Holdings Ltd. completed the acquisition of Emilia Development (O.F.G) Ltd. (TASE:EMDV) in a reverse merger transaction on July 2, 2017.