News

| Idan Baki
March 29th, 2018

Gornitzky represents Shilav Group Ltd. in the sale of its shares in Shilav, Israel’s biggest and most popular chain for baby and children essentials.

Gornitzky represented Shilav Group Ltd. in the sale of all of its shares in Shilav Direct Marketing to the Mother’s Home Ltd. and Shesek Supply Services for the Mother, Baby and Child Ltd.
Shilav is Israel's biggest and most popular chain for baby and children essentials.


Shilav Group Ltd. was represented by Partners Chaim Friedland and Idan Baki, together with Associates Yoav Meer and Eitan Mor.

February 2nd, 2015

Gornitzky represented Fortissimo in its acquisition of a group of companies, including Enercon Ariel Ltd.

Gornitzky & Co. represented Fortissimo Capital Fund in its acquisition of a group of companies, including Enercon Ariel Ltd. The companies develop, produce and market power supply and UPS systems, which are used by leading manufacturers of aviation, aerospace, naval and ground military/defense equipment, as well as for civilian use. The purchase amount is undisclosed.

 

Enercon Ariel Ltd. is a leading designer/manufacturer of custom power supplies for the aerospace and defense industries.

 

Fortissimo Capital Fund was represented by Chaim Friedland (Partner), Timor Belan (Partner), Avner Finkelshtein (Partner, Antitrust), Michael Ayalon (Partner, Labor Law), Idan Baki (Partner, Finance), Shira Porat (Finance), Lior Grinblat, and Ariel Davis.   

October 30th, 2014

Representation of Israel Corp. in USD 200 million collar transaction with Goldman Sachs and Morgan Stanley as counterparties 

We represented Israel Corp. in a collar transaction with Goldman Sachs and Morgan Stanley as counterparties. This collar is a unique equity derivative transaction, (even on a global scale) that involved complex financing issues and collateral arrangements that are rarely seen and done on the Israeli market. In addition, the transaction involved questions of both US and Israeli securities laws, as a result of the dual listing of Israel Chemicals shares on the NYSE, and included the first ever IPO conducted as a short sale in connection with an equity derivative transaction.

April 2nd, 2014

Gornitzky represented Altria Group Inc. in its acquisition of Green Smoke Inc., an electronic cigarette business, for USD 110 million and up to USD 20 million in incentive payments.

Gornitzky represented Altria Group Inc. (NYSE: MO) in its acquisition of Green Smoke Inc., an electronic cigarette business, and its affiliates. Altria, which owns the top U.S. cigarette maker, Philip Morris USA, has purchased Green Smoke for USD 110 million and up to USD 20 million in incentive payments.

 

Altria Group Inc. was represented by Chaim Friedland (Partner, Corporate M&A), Yoram Arad (Partner, High-Tech), Ari Fried (Partner, Corporate M&A), Idan Baki (Partner, Finance), Michael Ayalon (Partner, Labor), Dafna Michalevich-Bacharach (High-Tech), Avi Meer (Corporate) and Joanna Yanowsky (Labor).

February 1st, 2013

Gornitzky & Co. represented one of the world's leading banks in the Israeli aspects of a USD 50 million loan facility to an international biotechnology company with an Israeli subsidiary.

Gornitzky & Co. represented one of the world's leading banks (traded on the Deutsche Börse and the NYSE) in the Israeli aspects of a USD 50 million loan facility to an international biotechnology company with an Israeli subsidiary.

 

The bank was represented by Benjamin Waltuch (Partner), Idan Baki (Partner) and Ariel Davis.

April 30th, 2012

Gornitzky represented Kadimastem Ltd. in their successful negotiations with Merck Serono S.A. for the entry into a long-term collaboration between the companies in drug discovery and screening to discover new drugs for the treatment of Multiple Sclerosis.

Gornitzky represented Kadimastem Ltd. in their successful negotiations with Merck Serono S.A. for the entry into a long-term collaboration between the companies in drug discovery and screening to discover new drugs for the treatment of the neurological disease Multiple Sclerosis. As part of the joint project between the two companies, Kadimastem's innovative and breakthrough platform, using human stem cells-derived functional tissues, will be applied to test potential new drugs for the treatment of the neurological disease.

 

Kadimastem is an Israeli biotechnology company focused on the industrial development and commercialization of human pluripotent stem cell-based products for the pharmaceutical and/or medical treatment of diabetes, neurodegenerative diseases and other indications.

 

Mr. Yoram Arad (Partner) and Mr. Idan Baki (Partner) led the representation.

August 13th, 2017

Gornitzky represents Fortissimo Capital Fund in its acquisition of Tuttnauer Co. Ltd. 

Gornitzky represented Fortissimo Capital Fund in its acquisition of Tuttnauer Co. Ltd. Since 1925, Tuttnauer has been and continues to operate as a leading manufacturer and supplier of autoclaves, washers and other sterilization applications and devices.

 

Fortissimo was represented by Chaim Friedland (Partner, Corporate/M&A), Idan Baki (Partner, Finance), Avner Finkelshtein (Partner, Antitrust), together with associates Yoav Meer, Alon Peled, Nir Knoll and Coral Leshez.

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.

September 29th, 2014

Gornitzky represented Israel Corporation in a USD 200 million derivative financing transaction, with respect to shares of Israel Chemicals (ICL).

Gornitzky represented Israel Corporation (TASE: ILCO) in a USD 200 million derivative financing transaction, with respect to shares of Israel Chemicals (TASE: ICL), which were part of a sale offering of ICL's shares on the New York Stock Exchange.

 

Israel Corporation was represented by Idan Baki (Partner) and Nurit Traurik (Partner).

February 2nd, 2014

Gornitzky & Co. represented Fortissimo Capital Fund in its NIS 192 million acquisition of Eshbel Technologies Ltd., after receiving court approval for the transaction.

Gornitzky & Co. represented Fortissimo Capital Fund in its NIS 192 million acquisition of Eshbel Technologies Ltd. The transaction was conducted through the Central Region District Court in the context of insolvency proceedings with respect to Eshbel.

 

Eshbel is the developer of Priority, proprietary ERP software for small and medium businesses worldwide.

 

Fortissimo Capital Fund was represented by Chaim Friedland (Partner, Corporate/M&A), Maya Sabari (Sadeh) (Partner, Litigation), Idan Baki (Partner, Finance), Avner Finkelshtein (Partner, Antitrust) and Ariel Davis.

October 19th, 2012

Gornitzky & Co. represented Fortissimo Capital in their USD 80.3 million purchase of Starhome BV, a subsidiary of Comverse Technology Inc. (NASDAQ: CMVT), as well as in the financing of the transaction.

Gornitzky & Co. represented Fortissimo Capital,  in their USD 80.3 million purchase of Starhome BV, a subsidiary of Comverse Technology Inc. (NASDAQ: CMVT), as well as in the financing of the transaction.

 

In addition to legal representation of the private equity fund in the purchase and financing of the transaction, Gornitzky & Co. also negotiated a complex transitional services agreement, which provides Starhome with continued support services from Comverse.

 

Starhome is a leading provider of international roaming solutions and their products are used by more than 200 mobile operators worldwide, including by 20 of the 30 largest operators in the world. Fortissimo Capital is a group of private equity funds managing half a billion dollars.

 

Fortissimo was represented by Chaim Friedland (Partner, Corporate/M&A), Benjamin Waltuch (Partner, Corporate/M&A), Yoram Arad (Partner, Technology/Commercial), Idan Baki (Partner, Banking/Finance), Avner Finkelshtein (Antitrust), Yehonatan Raff  and Ariel Davis.

January 16th, 2011

Gornitzky & Co. represented OPC Rotem and its sponsors, Israel Corporation and Dalkia Israel Ltd, in a project financing transaction of approx. NIS 2 billion.

Gornitzky & Co. represented OPC Rotem, a private company, and its sponsors, Israel Corporation (TASE: ILCO) (80%) and Dalkia Israel Ltd (20%), a subsidiary of Veolia Environment SA (NYSE: VE), in a project financing transaction from a syndicate comprising of banks and institutional lenders, led by Bank Leumi Le-Israel B.M., for the development and construction of a 440 megawatt private (B.O.O) power plant in Israel in a total estimated investment of NIS 2 billion.

 

The transaction was led by Jack Smith (Partner) and Idan Baki (Partner).