Ashtrom Group Ltd. (TASE:ASHG) made an offer to acquire remaining 45.66% stake in Ashtrom Properties Ltd (TASE:ASPR) from Clal Financial Management Ltd and others for approximately 550 million on September 30, 2020. Under the terms, Ashtrom Group offers to buy 47.1 million shares of Ashtrom Properties by issuing 0.3441 Ashtrom Group share for each Ashtrom Properties share. As on October 25, 2020, Ashtrom Group has agreed to issue 17.8 million shares, representing 0.3441 Ashtrom Group share for each Ashtrom Properties share. The last acceptance date for the purchase offer is October 15, 2020. As on October 25, 2020, the deal has been postponed and acceptance notices are to be delivered until October 29, 2020. Mizrahi Tefahot Bank Ltd. (TASE:MZTF) acted as financial advisor to the offer.

Ashtrom Group Ltd. (TASE:ASHG) completed the acquisition of remaining 45.66% stake in Ashtrom Properties Ltd (TASE:ASPR) from Clal Financial Management Ltd and others on October 29, 2020.