An unknown international entity made an offer to acquire Somoto Ltd. (TASE:SMTO) for approximately ILS 260 million on July 25, 2017. As part of the transaction, the unknown international entity made an offer to acquire Somoto at a price of ILS 3.7 per share. In a related transaction another unknown international entity made a competing offer to acquire Somoto at a price of ILS 4 per share on July 25, 2017. The deal is subject to Board’s approval and pre-conditions, including the signing of a definitive agreement. An unknown international entity cancelled the acquisition of Somoto Ltd. (TASE:SMTO) on July 25, 2018.