News

| Itay Geffen
December 19th, 2017

Gornitzky represents Shefa Yamim (A.T.M) Ltd. in its initial public offering on the London Stock Exchange.

Gornitzky represented Shefa Yamim (A.T.M) Ltd. in its initial public offering on the London Stock Exchange. Shefa Yamim is a multi-commodity gemstone mining exploration Company, with operations in Northern Israel.

 

Shefa Yamim (A.T.M) Ltd. was represented by Itay Geffen (Partner) and Associate Yoav Meer.

June 9th, 2017

Gornitzky represents Noy Fund in its NIS 120 million purchase of Tahal Group's shares.

Gornitzky represents Noy Fund, an Israeli infrastructure and energy investment fund, in the acquisition of Tahal Group's stake in the pumped-storage hydroelectricity project in Kochav Hayarden, for approximately NIS 120 million.

 

Noy Fund was represented by Partners Itay Geffen (Head of Infrastructure), Ronit Rozenstein-Barel and Amit Levy (Associate).

March 1st, 2016

Adv. Itay Geffen (Partner) wrote a letter to acting Minister of Economy, Prime Minister Benjamin Netanyahu and Minister of Finance, Mr. Moshe Kahlon, regarding  their decision to reduce the cost of cement

In his letter to acting Minister of Economy, Prime Minister Benjamin Netanyahu and Minister of Finance, Mr. Moshe Kahlon, Adv. Itay Geffen (Partner), indicated, among others, that their decision to reduce the cost of cement will significantly harm competition, maintain Nesher's status as a monopoly in the cement market and may even result in employee layoffs.

 

See full story (Hebrew)

October 21st, 2015

Gornitzky represented Lumen Capital controlled by the Weil family in its successful bid for and acquisition of the "Nesher" cement production facility in Hartuv, Israel

Gornitzky represented Lumen Capital controlled by the Weil family in its successful bid for and acquisition of the "Nesher" cement production facility in Hartuv, Israel. The sale of this facility by Nesher Israel Cement Enterprises Ltd. was carried out pursuant to the divestiture order of the Israeli Antitrust Commissioner. As a result of this transaction the cement production market has been opened to competition after a period of 67 years of being subject to a complete and exclusive monopoly held by Nesher.

The Gornitzky team was led by Partners Itay Geffen (Corporate, Infrastructure & Project Finance), Chaim Friedland (Corporate, Mergers & Acquisitions), Avner Finkelshtein (Antitrust) and associate Yael Kleinman.

June 23rd, 2013

Gornitzky represented Negev Energy – Ashalim Thermo-Solar Ltd. in their win of a BOT tender for the design, finance, construction and operation of a USD 1.1 billion solar thermal plant in Ashalim with a net power output of up to 121 megawatts.

Gornitzky represented Negev Energy – Ashalim Thermo-Solar Ltd., a company equally held by Shikun & Binui - Renewable Energy Ltd. (TASE: SKBN) and a subsidiary of Spain's Abengoa Solar S.A., in their win of a BOT tender published by the Government of Israel for the design, finance, construction and operation of a USD 1.1 billion solar thermal plant in Ashalim with a net power output of up to 121 megawatts.

 

The planned concentrated solar power plant is expected to operate as a parabolic trough plant with 4.5 hours of thermal energy storage. Electricity generated in the plant will be purchased by Israel Electricity Corporation over a 25 year power purchase agreement.

 

Negev Energy was represented by Itay Geffen (Partner), Dubi Gross (Partner), Moshe Krieger, Imri Kozak and Arielle Ruimi.

October 9th, 2011

Gornitzky & Co. represented Melisron Ltd. (TASE: MLSR), of the Ofer Brothers group, in a NIS 529 million issuance of debentures.

Gornitzky & Co. represented Melisron Ltd. (TASE: MLSR), of the Ofer Brothers group, in raising NIS 529 million (approximately USD 150 million) through debentures secured by shares of British-Israel Investments Ltd.

 

In April 2011, Gornitzky represented Melisron in purchasing 70% of the capital stock of British-Israel for approximately NIS 1.7 billion. Melisron-British is now the largest group in the Israeli shopping malls industry, managing approximately 20 shopping malls across Israel.

 

Mr. Itay Geffen (Partner) and Mr. Guy Keren led the representation.

July 6th, 2017

Gornitzky represents Shikun & Binui in the financial closing of a large-scale project.

Gornitzky represented Shikun & Binui Group, Israel’s leading infrastructure and real estate group, in the financial closing of a large-scale project for the construction of a photovoltaic solar power plant (MW120) in Kibbutz Zeelim, for approximately NIS 650 million. This is meant to be the largest power plant ever to be built in Israel.

 

Shikun & Binui Group was represented by Partners Itay Geffen (Head of Infrastructure) and Yiftah Farber, together with Associates Maya Dvir and Liron Koren.

March 31st, 2016

Yet another successful year and recognition of our outstanding abilities! This year, as in previous years, Chambers and Partners, top ranked our firm in various categories. 

Yet another successful year and recognition of our outstanding abilities! This year, as in previous years, the esteemed international ranking guide, Chambers and Partners, top ranked our firm in various categories. Among those prominently ranked were the Head of the Firm, Adv. Pinhas Rubin, who was ranked Eminent Practitioner in the field of Banking and Mergers and Acquisitions, as well as Band 1 in the field of Tax and Litigation; Adv. Jack Smith (Partner) was ranked Band 1 in the field of Energy and Adv. Chaim Friedland (Partner) was ranked Band 1 in the field of Capital Markets. Additional partners, defined as leaders in their field are Eyal Marom and Shlomo Cohen in Real Estate, Ofer Tzur in Litigation, Itay Geffen in Capital Markets and Infrastructure and Project Finance, Elite Elkon, Eli Elya and Dubi Gross in Banking and Finance, Daniel Paserman and Gil Grady in Tax and Avner Finkelshtein in Antitrust

January 4th, 2016

Gornitzky represents Altshuler Shaham Investment House in an up to NIS 90 million credit facility to "Nethaniel Group". The funds will be used, inter alia, to the construction of an office and commercial complex, located in the city of Holon, Israel.

The Loan Agreement includes a one year credit line; in an aggregate sum of NIS 45 million starting 2016 and a long term loan agreement will replace it subject to the fulfillment of several conditions precedent. The total credit facility that will be provided by Altshuler Shaham will be up to 90 million NIS.

The construction is expected to be completed by the end of 2016, and the estimated annual revenue is expected to reach NIS 10 million.

 

See full story (Hebrew)

 

Altshuler Shaham were represented by Itay Geffen (Partner), Lior Relevy (Partner), Lee Cohen and Hagar Peleg

May 20th, 2015

Gornitzky represented China Railway Tunnel Group (CRTG) in their win of the NIS 2.9 billion tender to build the tunnels and underground stations in the western section of the Tel Aviv light rail's red line.

Gornitzky represented China Railway Tunnel Group (CRTG) in their win of the NIS 2.9 billion tender to build the tunnels and underground stations in the western section of the Tel Aviv light rail's red line, together with the Solel Boneh unit of Shikun & Binui Holdings Ltd. This tender is largest tender in the project operated by NTA Metropolitan Mass Transit System Ltd.


China Railway Tunnel Group is represented by Itay Geffen (Partner), Yiftah Farber and Amit Levy.

February 21st, 2013

Gornitzky & Co. represented Arison Holdings, which holds the controlling stake in Bank Hapoalim, in raising NIS 2.5 billion in a private placement - one of the largest in recent years.

Gornitzky & Co. represented Arison Holdings, which holds the controlling stake in Bank Hapoalim, in raising NIS 2.5 billion in a private placement. This placement is one the largest to transpire in recent years.

 

Arison Holdings was represented by Itay Geffen (Partner) and Yiftah Farber.

January 12th, 2011

Policity Ltd, represented by Gornitzky & Co., has recently been named preferred bidder in a tender for the design, finance, construction, operation and maintenance of the national training center of the Israeli Police, estimated at NIS 1.8 billion

Gornitzky & Co. represented Policity Ltd, a single purpose company held by Shikun & Binui Ltd (TASE:SKBN) (50%) and Hashmira Ltd. (of the G4S group) (50%), in submitting its bid in the tender for the design, finance, construction, operation and maintenance of the national training center of the Israeli Police for a period of 25 years. Policity Ltd has recently been declared preferred bidder in the tender.

 

The project is to be constructed in the western industrial zone of the Israeli city of Beit Shemesh, in an area of approx. 230 dunams (approx. 57 acres) and will include different structures in an estimated scope of 42,000 meters of main areas and service areas in an estimated scope of 20,000 meters. The approximate scope of occupancy of the training center is 2,000 cadets on weekdays. Policity will be entitled to a construction grant, a fixed quarterly payment and additional variable payments for the different operation and maintenance services to be supplied, summing up to approximately NIS 1.8 billion.

 

The team handling the representation included Itay Geffen (Partner) and Yiftah Farber.