Elscint Ltd, a subsidiary of Elbit Medical Imaging Ltd, has executed a definitive share purchase agreement for the acquisition of 100 per cent of the equity and voting rights of Mango Israel Clothing & Footwear Ltd.

Elscint has agreed to pay  €2.85 million acquisition of the rights of Mango Israel and an option to operate an additional retail facility.

Mango Israel distributes and sells the Mango-MNG brand name and operates eight retail facilities in various cities in Israel.

Upon consummation of the transaction, Mango will execute distribution agreements with MANGO-MNG brand name owners for a ten-year period, subject to fulfillment of certain conditions.

Elscint will retain the right to introduce additional purchasers, provided that it retains control of Mango.

This transaction is subject to the consent of certain third parties.