An undisclosed buyer agreed to acquire Eshelon Hotels Ltd. from Ashtrom Properties Ltd. (TASE:ASPR) for approximately ILS 120 million on May 3, 2018. Under the terms of the transaction, Ashtrom Properties Ltd. will be paid ILS 15 million, which is a deposit on account of the first payment, to a trust in favor of Ashtrom Properties Ltd. on the date of signing the agreement and ILS 25 million, constituting the remainder of the first payment, will be deposited by the buyer with the trustee within 5 business days of fulfillment of the last suspending conditions. The first payment will be transferred from the trustee to Ashtrom Properties Ltd. on the date of the interim closing of the transaction, within 7 days from the date of the last of the suspending conditions. The sums of ILS 42 million (second payment) and ILS 40 million (third payment) will be paid not later than 12 months since date of completion of the suspending conditions, and not after December 31, 2019. An undisclosed buyer cancelled the acquisition of Eshelon Hotels Ltd. from Ashtrom Properties Ltd. (TASE:ASPR) on May 3, 2019.