Kardan Yazamut (2011) Ltd. (TASE:KRYT) agreed to acquire the remaining 19.4% stake in Kardan Israel Ltd. (TASE:KRIS) for ILS 85.9 million on June 12, 2017. Under the terms of the deal, Kardan Yazamut will pay ILS 2.43 in cash and will allot 1.59 shares of Kardan Real Estate for each share of Kardan Israel. As per the revised deal terms on June 25, 2017, Kardan Yazamut (2011) Ltd. (TASE:KRYT) agreed to acquire the remaining 19.4% stake in Kardan Israel Ltd. (TASE:KRIS) for ILS 75.4 million. Kardan Yazamut will pay ILS 2.43 in cash and will allot 1.8 shares of Kardan Real Estate for each share of Kardan Israel. The deal is conditional upon less than 5% of the shareholders of Kardan Israel rejecting the offer. In the event the transaction is accepted and the entire shares are acquired, Kardan Israel will be delisted from the Stock Exchange. The offer will expire on June 29, 2017. Mizrahi Tefahot Bank Ltd. acted as offer coordinator. Kardan Yazamut (2011) Ltd. (TASE:KRYT) completed the acquisition of the remaining 19.4% stake in Kardan Israel Ltd. (TASE:KRIS) on June 29, 2017. On June 29, 2017, the tender offer period expired and the response ratio required for the completion of the transaction was achieved. Therefore, Kardan Yazamut acquired all of the targeted shares in the tender offer. As a consequence, Kardan Israel has been delisted from the Stock Exchange and is now a private company.