News

| Yair Shiloni
June 29th, 2017

Gornitzky represents Oron Group Investments and Holdings in a NIS 100 million public offering.

Gornitzky represented the construction company Oron Group Investments & Holdings Ltd. in a NIS 100 million public offering, by expanding existing bonds series, traded on TASE. Oron was represented by Yair Shiloni (Partner) and Itamar Ben Yehuda (Associate).

June 1st, 2017

Gornitzky represents Telrad Networks Ltd. in an IPO on TASE.

Gornitzky represented Telrad Networks Ltd., a global provider of innovative telecom solutions, including wireless communication products, in a NIS 162 million IPO on TASE; the IPO was carried out through a combination of the issuance of shares by the Company, along with an offer for sale of shares by the Company's shareholders.

 

Telrad Networks was represented by Yair Shiloni (Partner), Sagit Amit Evan (Senior Associate) and Itamar Ben-Yehuda and Netalee Aviv (Associates).

January 11th, 2017

Gornitzky represented the Israel Corporation Ltd., the largest shareholder in Israel Chemicals Ltd., in a bond public offering amounting to 810 million NIS

During the month of January 2017 Gornitzky & Co represented the Israel Corporation Ltd., the largest shareholder in Israel Chemicals Ltd., in a bond public offering amounting to 810 million NIS.

 

The Israel Corporation Ltd was represented by Yair Shiloni (Partner) and Itamar Ben-Yehuda.

September 19th, 2016

Gornitzky represented A.D.O. Group Ltd. (TASE:ADO) of the Shikun & Binui Group (TASE:SKBN) in its issuance of public bonds, in which A.D.O. raised NIS 255 million.

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) of the Shikun & Binui Group (TASE: SKBN) in its issuance of public bonds, in which ADO raised NIS 255 million.
The bonds were secured by shares of its subsidiary ADO PROPERTIES S.A.. a Luxemburg company whose shares are traded on the Frankfurt Stock Exchange.

 

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner), Itamar Ben-Yehuda and Shai Chen.

May 26th, 2016

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) - controlled by Shikun & Binui Group (TASE: SKBN), in the preparation and filing of a shelf prospectus. 

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) - controlled by Shikun & Binui Group (TASE: SKBN), in the preparation and filing of a shelf prospectus. Gornitzky advised and represented the company before the Securities Authority and the Tel Aviv Stock Exchange Ltd. in order to publish the prospectus.

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner) and Itamar Ben-Yehuda.

March 13th, 2016

Gornitzky & Co. represent I.D.B. Development in a motion to amend I.D.B. Holdings' creditor arrangement, following which I.D.B. Development will be delisted from trading in the Tel-Aviv Stock Exchange

Gornitzky & Co. represent I.D.B. Development in a motion to amend I.D.B. Holdings' creditor arrangement, following which I.D.B. Development will be delisted from trading in the Tel-Aviv Stock Exchange.
I.D.B. Development's trustee for Series 9 bondholders objected the motion claiming, among others, that the company was insolvent and that the suggested amendment could not ensure the company's full commitments until the end of the year.
On March 10th, 2016, a court session was held at the District Court in Tel Aviv, before the honorable Judge Brenner, upon which a decision was issued, approving the amendment of the

 

 

See full story (Hebrew)

 

I.D.B. Development is represented by Pinhas Rubin (Chairman of the Firm), Kfir Yadgar (Partner) and Yair Shiloni (Partner).

February 4th, 2016

Gornitzky represented Osem Investments Ltd., in a substantial “Reverse Triangular Merger” pursuant to which Nestle shall acquire all Osem’s "floating shares” in cash (representing a valuation of NIS 9.13 Billion)

Gornitzky represented Osem Investments Ltd. (“Osem”), one of the leading companies in the food industry is Israel, in a substantial “Reverse Triangular Merger” pursuant to which Nestle S.A. ("Nestle"), the controlling shareholder of Osem, shall acquire all Osem’s "floating shares" (held by the public) in a cash consideration representing a valuation of NIS 9.13 Billion for Osem. Subject to the completion of the merger transaction, Osem will be delisted from TASE and become a private company wholly owned by Nestle.


See full story (Hebrew)


Osem was represented by Lior Porat (Partner), Yair Shiloni (Partner) and Uri Heller (Associate). 

January 26th, 2015

Gornitzky & Co. represented Fortissimo Capital Fund in its acquisition of Synergy Cables Ltd. for NIS 15 million. 

Gornitzky & Co. represented Fortissimo Capital Fund in its acquisition of Synergy Cables Ltd. for NIS 15 million. The transaction was conducted through the Beer Sheba District Court in the context of corporate reorganization proceedings with respect to Synergy Cables and its publicly traded bonds.

Synergy Cables, headquartered in Sderot, Israel, is a global supplier of power & electrical cables.

Fortissimo Capital Fund was represented by Chaim Friedland (Partner, Corporate/M&A), Yaron Elhawi (Partner, Restructuring & Insolvency), Yair Shiloni (Partner, Capital Markets), and Avner Finkelshtein (Partner, Antitrust).

January 22nd, 2014

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) in its issuance of public bonds, in which ADO raised NIS 100 million.  

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) of the Shikun & Binui Group (TASE: SKBN) in its issuance of public bonds, in which ADO raised NIS 100 million.  The bonds were secured by shares in a Cypriot company. 

 

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner) and Itamar Ben Yehuda.

October 29th, 2013

Gornitzky represented A.D.O. Group Ltd. in its acquisition of a EURO 98 million German residential real estate portfolio from British property fund manager Stenham.

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) of the Shikun & Binui Group (TASE: SKBN) in its acquisition of a EURO 98 million German residential real estate portfolio from British property fund manager Stenham for cash and shares in A.D.O. Group. The portfolio comprises 48 buildings in Berlin including approximately 1,150 residential units.


A.D.O. Group Ltd. was represented by Yair Shiloni (Partner), Dubi Gross (Partner) and Yehonatan Raff.

November 5th, 2012

Yair Shiloni, a partner at Gornitzky who specializes in corporate law and capital markets, was featured in an article in the Globes newspaper discussing the recent amendment to the Companies Law.

Yair Shiloni, a partner at Gornitzky who specializes in corporate law and capital markets, was featured in an article in the Globes newspaper discussing the recent amendment to the Companies Law, which will limit the salaries of executives in public companies.


Mr. Shiloni is quoted by the newspaper, where he stated, "The new amendment will not necessarily bring about a change in the rising salaries of executives, which the law amenders are seeking to bring to a halt.  On the other hand, it may create a noticeable difficulty in bringing good managers to public companies, which constitute a source of human capital vital for the success of company, and to dim to some extent the controlling shareholder's ability to control, as he will now be limited in his ability to direct and influence the compensation of executive officers in the company."

June 6th, 2017

Gornitzky represents Halman-Aldubi Investment House in a merger transaction.

Gornitzky represented Halman-Aldubi Investment House in a merger transaction with a publicly traded company, in which Halman-Aldubi's entire investment activity turned into the public company. Currently, Halman-Aldubi has approximately NIS 14 billion worth of assets under its management.

 

Halman-Aldubi was represented by Timor Belan (Partner), Yair Shiloni (Partner) and Itamar Ben-Yehuda (Associate).

March 7th, 2017

Gornitzky represented ADO Group LTD, from Shikun& Binui group in its issuance of new public bonds series that is supported by securities

Gornitzky represented ADO Group LTD, from Shikun& Binui group in its issuance of new public bonds series that is supported by securities. Within the framework of the issuance, ADO group raised NIS 390 million.

 

ADO Group was represented by Yair Shiloni (partner) and Itamar Ben Yehuda.

 

December 14th, 2016

Gornitzky represented Halman-Aldubi Investment House in a merger with SoHo Real Estate

Gornitzky represented Halman-Aldubi Investment House a merger agreement with SoHo Real Estate. By this merger, Halman-Aldubi, estimated at approximately NIS 141 million, shall turn into a public company, a step that will enable the investment house to grow in additional directions. As of today, the investment house has approx. 14 billion Shekels of assets under management and about 200,000 clients.

 

For further reading in Calcalist (Hebrew)

Halman-Aldubi is represented by Timor Belan (Partner), Yair Shiloni (Partner) and Itamar Ben-Yehuda

May 31st, 2016

Gornitzky & Co represented the Israel Corporation Ltd. (TASE: ILCO) , the largest shareholder in Israel Chemicals Ltd., in two bond issuances of amounting to 1.4 billion NIS.

During the month of May 2016 Gornitzky & Co represented the Israel Corporation Ltd., the largest shareholder in Israel Chemicals Ltd., in two bond issuances amounting to 1.4 billion NIS.

 

The representation included: (a) advising and representing the company before the Securities Authority and the Tel Aviv Stock Exchange Ltd. in order to publish a shelf prospectus, (b) advising and representing the company before the Trustee for bond holders and the Tel Aviv Stock Exchange Ltd., and (c) negotiating with institutional investors, for the completion of the issuance of two series of bonds (one linked to the dollar and another unlinked in shekels) totalling 1.4 Billion shekels, by way of a public offering under the mentioned prospectus.

 

The Israel Corporation Ltd was represented by Yair Shiloni (Partner) and Itamar Ben-Yehuda.

April 16th, 2016

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) - controlled by Shikun & Binui Group (TASE: SKBN( in two tender offers for its shares, amounting to a total aggregate of NIS 350 million. 

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) - controlled by Shikun & Binui Group (TASE: SKBN( in two tender offers for its shares, amounting to a total aggregate of NIS 350 million.

 

Gornitzky represented and advised the company's management and Board of Directors in connection with the public offers, the consultation included advising on various aspects of corporate and securities law matters as well as tax matters.

 

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner), Itamar Ben-Yehuda. and Michal Karzbrun

March 13th, 2016

Gornitzky represented IDB development Ltd. in a request to amend IDB holdings company’s creditors agreement

Gornitzky represented IDB development Ltd. In a request to amend IDB holdings company’s creditors agreement, to which the trustee of debenture “Tet” objected, claiming that the agreement would not solve the company’s financial problems in the next year. He therefore asked the company and the court to determine that in case the company would reach insolvency, the position of the creditors would be restored.

 

See full story (Hebrew)

 

IDB development Ltd.was represented by Pinhas Rubin (Firm Chairman), Kfir Yadgar (Partner) and Yair Shiloni (Partner)

December 2nd, 2015

Gornitzky represents the underwriters, led by Apex Issuances, in a NIS 265 million unsecured bonds IPO on the Tel Aviv Stock Exchange, made by Strawberry Fields REIT, Ltd.

Gornitzky represents the underwriters, led by Apex Issuances, in a NIS 265 million unsecured bonds IPO on the Tel Aviv Stock Exchange, made by Strawberry Fields REIT, Ltd, a BVI company based in the U.S. which owns 39 income generating properties in the U.S., used as retirement homes and medical facilities. 

 

The underwriters were represented by Yair Shiloni (partner) and Sagit Amit Evan.

January 12th, 2015

Gornitzky represented Israel Corporation as the conglomerate split itself into two parts, and in the dual-listing of its spin-off, Kenon Holdings Ltd., on the TASE and on the NYSE.

Gornitzky represented Israel Corporation (TASE: ILCO) as the conglomerate split itself into two parts by way of a distribution of a dividend in kind, and in the dual-listing of its Singaporian spin-off corporation, Kenon Holdings Ltd. (TASE: KEN, NYSE: KEN) on the Tel Aviv Stock Exchange and on the New York Stock Exchange.

 

Israel Corporation and Kenon were represented by Pinhas Rubin (Firm Chairman) and Lior Porat (Partner), together with Elite Elkon-May-Tal (Partner), Gil Grady (Partner, tax), Yair Shiloni (Partner, capital markets), Idan Baki (Partner, finance), Avner Finkelshtein (Partner, antitrust), Nurit Traurik (Partner), Ori Yitzhak, Itamar Ben Yehuda (capital markets), Avishai Marom, Amit Levy, Shira Porat (finance) and Natalie Dragot.

January 15th, 2014

Gornitzky & Co. represented A.D.O. Group Ltd. (TASE: ADO) in a NIS 100 million public rights issue offering.

Gornitzky & Co. represented A.D.O. Group Ltd. (TASE: ADO) of the Shikun & Binui Group (TASE: SKBN) in its public rights offering, in which the company raised NIS 100 million in exchange for shares and options.

 

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner) and Itamar Ben Yehuda.

January 15th, 2013

Gornitzky & Co. represented Mustang Mezzanine Fund in connection with a mezzanine loan to Malka Retail Group Ltd., a privately-held company and a dominant middle-size fashion manufacturer and retailer, with leading brands such as “ML” and “Jump”.

Gornitzky & Co. represented Mustang Mezzanine Fund in connection with a mezzanine loan to Malka Retail Group Ltd., a privately-held company, and a dominant middle-size fashion manufacturer and retailer, with leading brands such as “ML” and “Jump”. The transaction with Mustang is directed towards funding the future non-organic growth of the group.

 

Mustang Mezzanine Fund was represented by Mr. Chaim Friedland (Partner), Mr. Yair Shiloni (Partner), Mr. Yiftah Farber and Mr. Yoav Meer.

September 10th, 2012

Gornitzky represented ADO Group Ltd. in a deal to bring in Harel Group as a strategic partner in the company by way of allotment of shares and convertible debentures to Harel Group in exchange for NIS 75 million.

Gornitzky represented ADO Group Ltd. in a deal to bring in Harel Group as a strategic partner in the company by way of allotment of shares and convertible debentures to Harel Group in exchange for NIS 75 million.

In the context of this transaction, Gornitzky assisted the company in their negotiations with Harel and in the obtainment of the necessary consents from third parties, as well as in capital markets related aspects.

 

ADO Group Ltd. is a public company listed on the Tel Aviv Stock Exchange.

 

Mr. Yair Shiloni (Partner), Mr. Ori Yitzhak and Mr. Yonatan Zehavi led the representation.