An unknown buyer signed an agreement to acquire rights of building Cirencester in England from Ravad Ltd (TASE:RAVD) and others for £16.6 million on December 5, 2016. The buyer has deposited a non-refundable down payment of £0.83 million while the remaining payment will be made upon completion of the transaction. Ravad will sell its 50% interest in the building. The transaction is subject to conditions such as the waiver of a lien existing over the asset. The transaction is expected to close within 60 days from the signing of agreement.