Gabay Europe Israel Ltd. agreed to acquire an additional 32.1% stake in Engel Resources and Development Ltd. (TASE:ENRS) from GBES Limited on August 21, 2017. Pursuant to the transaction, Gabay Europe will acquire approximately 1.74 million shares, representing 32.1% stake in Engel. On completion, Gabay Europe will hold approximately 3.41 million shares, representing approximately 63% stake in Engel. The transaction is subject to a number of predictions. Sandy Jamieson and James Caithie of Cairn Financial Advisers LLP acted as financial advisors in the transaction. Gabay Europe Israel Ltd. completed the acquisition of an additional 32.1% stake in Engel Resources and Development Ltd. (TASE:ENRS) from GBES Limited on November 20, 2017. Gabay Europe now holds approximately 62.9% of the voting rights of Engel.