Asian Service Trade Control Rte. Ltd. entered into a letter of intent to acquire Star Center Manofim Ashdod Ltd. And S.L.S. Sails Ltd. from Arena Star Group Ltd. (TASE:ARNA) for ILS 790 million on October 6, 2016. The consideration includes ILS 320 million to be paid in lieu of loans by Star Center and S.L.S. Sails from bank entities. The transaction is subject, among others, to completion of processes and approvals as the Companies Law dictates, and the signing of a definitive agreement. The Due diligence process and definitive agreement are to be completed on or before November 28, 2016. On January 18, 2017, the Audit Committee issued its opinion of rejecting the Offer to the Board, because it believes that the consideration calculation are based in non-conclusive copyright taxation issues. As on November 11, 2016, the offer expiration had been extended to February 28, 2017. Asian Service Trade Control Rte. Ltd. cancelled the acquisition of Star Center Manofim Ashdod Ltd. And S.L.S. Sails Ltd. from Arena Star Group Ltd. (TASE:ARNA) on March 6, 2017.