Amit Varadi along with other officers of Leader Holdings & Investments Ltd signed an agreement to acquire 80% stake in Leader Issuances (1993) Ltd. and 100% stake in Leader & Co. Investment House, Ltd. from Leader Holdings & Investments Ltd (TASE:LDER) for ILS 10 million on August 29, 2016. The consideration is subject to distributions in Investment House. Along with the consideration, a loan to the parent company of the buyer will be paid of ILS 15 million. The 2.5% loan due September 30, 2022 will be paid in 6 equal installments. After completion of the transaction, the business will be called as Leader Capital Markets and Shai Ben-Yakar will take over as Chief Executive Officer. The transaction is subject to Court’s approval to carry out the distribution in Investment House, the taxes authority’s approval, and others. The last date to fulfill the pre-conditions is September 30, 2016, and may be extended until October 31, 2016. The agreement will be cancelled if the pre-conditions are not fulfilled by then. The deal is expected to close on September 30, 2016.