Engel Resources and Development Ltd. (TASE:ENRS) made an offer to acquire Arazim Investments Ltd. on April 2, 2017. Engel Resources and Development will present a cash guarantee to the trustee. The transaction is subject to completion of a due diligence process, Engel Resources’ board approval and antitrust approval. The deal is expected to close within 60 days from the offer. Proceeds from the transaction will be fully used to repay Arazim’s obligation towards its issued bonds. Gabay Rental and Development Ltd (TASE:GBPR) cancelled the acquisition of Arazim Investments Ltd. on April 2, 2018.