Shayma Investments agreed to acquire 29.17% stakes in Jerusalem Economy Ltd. (TASE:ECJM) for approximately ILS 530 million on August 28, 2016. A tender offer was made by Naty Saidoff and Ofer Saidoff through Shayma Investments. Shayma Investments offered ILS 7.25 per share, which is 12% less than its closing price on the Tel Aviv Stock Exchange on August 28, 2016. The current offer is open to all shareholders, but clearly aimed at the biggest of them, including Summit, through September 18, 2016. Shimonov & Co. acted as legal advisor to Shayma Investments. Shayma Investments cancelled the acquisition of 29.17% stakes in Jerusalem Economy Ltd. (TASE:ECJM) on September 18, 2016. A total of 0.01% of the shareholders tendered to the offer, as a result of which Shayma Investments cancelled the offer.