Brand Industries Ltd. (TASE:BRND) signed an agreement to acquire the remaining 40% stake in Pelegas Ltd from the partner for ILS 16.9 million on October 27, 2016. The consideration of ILS 9.5 million will be paid in cash (ILS 8 million will be paid upon completion, and ILS 1.5 million will be paid until December 31, 2016), and the remaining amount will be paid through the issuance of 0.67 million Brand Industries’s shares. Upon completion, Brand Industries will hold 100% of Pelegas. Pre-conditions include the approval of the Tel-Aviv Stock Exchange to issue shares of Brand Industries as part of the consideration, and antitrust commissioner approval. Brand Industries Ltd. (TASE:BRND) completed the acquisition of the remaining 40% stake in Pelegas Ltd from the partner on December 28, 2016.