Electra America, Inc. entered in an agreement to acquire Elco North America II, Inc. from Elco Ltd. (TASE:ELCO) for ILS 56.5 million on June 1, 2016. The deal is subject to Elco’s investment in Electra Real Estate an amount no smaller than the consideration, in exchange for the allotment of shares of Electra Real Estate to Elco through a Public Offering. The transaction has been approved in general meeting of Electra Real Estate.