News| Elite Elkon
Gornitzky represents Apax in the acquisition of 3M’s electronic monitoring business
Gornitzky represented Apax Partners in the acquisition of 3M’s (NYSE: MMM) electronic monitoring business.
Apax was represented by Partners Chaim Friedland, Elite Elkon, Yoram Arad and Yoni Raff, and by Assaf Harel, Avi Meer, Oded Uni, Sam Berkowitz and Liron Koren. The DD team also included Dan Fisher, Ori Sheinkman (Employment), Tigist Bayleyei Salomon (Real Estate), Daniel Reshef, Daniella Segal and Sharon Reingwirtz.
For more details on the transaction see the following Apax Press Release.
Gornitzky represents the Delek Group in the NIS 1.95 billion sale of their controlling stake in The Phoenix Holdings Ltd. to Fujian Yango Group Co.
Gornitzky represents the Israeli conglomerate Delek Group (DLEKG:TASE) in the NIS 1.95 billion sale of their controlling stake in The Phoenix Holdings Ltd. (PHOE1:TASE), the holding company of one of Israel's largest insurance companies and one of the country's largest investment houses (Excellence), to Fujian Yango Group Co., Ltd., the largest privately-owned conglomerate in mainland China.
This deal is the first major sale since the Committee on Increasing Competitiveness in the Israeli Economy resolved that control holders cannot hold both large financial and large non-financial companies simultaneously. This will also be the first time that a Chinese company purchases such a highly regulated asset in Israel. The closing of the transaction is subject to obtaining the relevant permits.
Gornitzky is representing Delek Group Ltd. in the sale of their controlling stake in Phoenix Holdings Ltd. to an affiliate of Fosun International Limited, the largest privately-owned conglomerate in Mainland China.
Gornitzky is representing Delek Group Ltd. in the sale of their controlling stake in Phoenix Holdings Ltd., which holds one of Israel's leading insurance companies (The Phoenix) and one of Israel’s largest investment houses (Excellence), to an affiliate of Fosun International Limited, the largest privately-owned conglomerate in Mainland China. This is the first time that a Chinese-owned company is purchasing a highly regulated financial institution in Israel.
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.
Gornitzky represents Delek Group in the sale of the Phoenix shares.
Gornitzky represented Delek Group Ltd. in a transaction for the sale of 4.9% of the share capital of the Phoenix Holdings Ltd., and for the grant of an option to the buyer to acquire the remaining shares held by Delek Group (totaling 52.25%) and thus control of the company. The aggregate consideration payable upon the sale of 4.9% and the exercise of the option equals approximately NIS 2.5 billion. The Phoenix Holdings holds the Phoenix Insurance Company, one of Israel's largest insurance companies, and Excellence, one of Israel's largest investment houses.
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
Gornitzky & Co. represented the Bank Hapoalim and other syndicate banks in financing a part of Bright Food (Group) Co., Ltd.'s buyout of the Israeli food company, Tnuva.
Gornitzky & Co. represented the Bank Hapoalim (as arranger and original lender) and other syndicate banks (Bank Discount, First International Bank of Israel and Clal Insurance Enterprises Holdings Ltd.) in financing a part of Bright Food (Group) Co., Ltd.'s buyout of the Israeli food company, Tnuva.
The lenders were represented by Eli Elya (Partner and Practice Head), Elite Elkon May-Tal (Partner), Dubi Gross (Partner), Nir Keidar, Ori Yitzhak, Gila Ponte-Shlush, Amnon Biss and Ady Abrams.
Gornitzky represented Isramco Ltd. in a USD 500 million loan from Deutsche Bank and Natixis, which will be used in part to finance the development of the Tamar gas field.
Gornitzky represented Isramco Ltd. (NASDAQ: ISRL; TASE: ISRA.L) in a USD 500 million loan from Deutsche Bank (NYSE: DB; DAX: DBK) and Natixis (FP: KN), which will be used to repay the company's bridge loan for the financing of the development of its share in the Tamar gas field, and for further development of the field.