Gil Deutsch and Ronnie Biram agreed to acquire 10% stake in Kardan Israel Ltd (TASE:KRDI) from Eitan Rechter for ILS 25 million on August 22, 2019. Under the terms, Gil Deutsch and Ronnie Biram will pay ILS 1.7 per share. Gil Deutsch and Ronnie Biram will purchase equally Eitan Rechter's stake. Eitan Rechter will quit his position in Kardan Israel's Board once the deal is closed. The deal is expected to close on September 30, 2019.