Alon Blue Square Israel Ltd made an offer to acquire the remaining 22.49% stake in Naaman Group (N.V.) Ltd (TASE:NAMN) for ILS 16.8 million on June 4, 2017. Alon Blue Square offered ILS 3.99 per share. Alon Blue Square Israel Ltd intends to delist Naaman’s shares from the Tel-Aviv Stock Exchange upon completion and turn Naaman Group into a private company. The offer is expected to expire on June 22, 2017. On June 26, 2017, the offer price was revised to ILS 4.58 per share. The offer is expected to expire on July 3, 2017. On July 2, 2017, the offer price was revised to ILS 5.06 per share. The offer is expected to expire on July 6, 2017. The tender offer completion is subject to a non-response rate of less than 5% of the shares. Bank Leumi le- Israel B.M acted as offer coordinator.