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March 7th, 2018

Gornitzky represented the Israel Hotel Association before the Antitrust Authority in a request for an exemption joint procurement agreements.

Gornitzky represented the Israel Hotel Association before the Antitrust Authority in a request for an exemption to joint procurement agreements. Within the framework of the agreements, the Hotel Association shall conduct negotiations with vendors on behalf of members of the Association for the purchase of various products, including: textile, detergents, kitchenware, furniture, etc. The exemption granted by the Antitrust Authority is contingent upon the fact that any hotel will be permitted to join the agreement, even if it is not a member of the Association (subject to payment), and provided that the three large hotel chains - Fattal, Isrotel and Dan - are not party to the agreement.
The Hotel Association was represented by Adv. Avner Finkelshtein (Partner) and Noa Schweitzer Amar (Associate).

February 8th, 2018

Gornitzky represents Rimonim in a lease transaction worth over NIS 50 million. 

Gornitzky represented Rimonim hotels chain in a lease transaction worth over NIS 50 million, according to which Rimonim will manage and operate the Kedma Hotel, currently under construction near kibbutz Sde Boker in southern Israel. In the framework of the transaction, Rimonim will provide the owner, Neot Boker Ltd. (jointly held by private entrepreneurs and Kibbutz Sde Boker) with a NIS 10 million loan.

The hotel will be opened for the public towards the end of 2018, and will include approximately 140 rooms and suites. 

 

Rimonim was represented by Managing Partner Kfir Yadgar, Partner Yiftah Farber and Associate Dafna Sidkiyahu.

April 5th, 2017

Gornitzky represented Fattal in a transaction with Issta Group for the acquisition of 3 hotels in Cyprus, in the aggregate amount of Euro 80 million.

Gornitzky & Co. represented Fattal Hotels in a joint transaction with Issta Group for the acquisition of 3 hotels in the city of Paphos in Cyprus, in the aggregate amount of Euro 80 million.

Our firm dealt with various aspects concerning the transaction, including the shareholder's agreement between Fattal and Issta with respect to the establishment of the joint company that purchased the hotels and the long term lease agreements for the management and operation of the hotels by Fattal Group. In addition, Gornitzky represented Fattal in the finance agreement with the Phoenix Insurance Company Ltd. and additional entities from the Phoenix Group, in a principal amount of Euro 56 million, for purchasing the hotels aforementioned.

 

Fattal Hotels was represented by Kfir Yadgar (Partner) and Yiftah Farber (Partner), together with associates Aviad Rabinowitz and Dafna Sidkiyahu

December 6th, 2015

Gornitzky represents Fattal Group in the sale and lease back of a portfolio of 18 hotels in Germany, valued at EUR 400 million

Gornitzky successfully represented Fattal Group in a sale and lease back transaction, of a portfolio of 18 hotels located in 12 cities in Germany, valued at EUR 400 million. The purchaser and lessor is Pandox Hotels, a leading Swedish hotel owner listed on the Stockholm Exchange.

Concurrent to the sale Fattal Group has signed a long term lease agreement with regards to the hotels that were sold.

 

See full story

 

The Fattal Group wase represented by Jack Smith (partner), Ori Yitzhak (Partner) and Samuel Berkowitz

June 21st, 2015

Gornitzky represented Bank Hapoalim and Mizrahi-Tefahot Bank in the signing of a NIS 1 billion credit agreement to finance the construction of the TLV Fashion Mall in Tel Aviv

Gornitzky represented Bank Hapoalim and Mizrahi-Tefahot Bank in the signing of a NIS 1 billion credit agreement to finance the construction of the TLV Fashion Mall in Tel Aviv. This is part of the first real-estate project ever in Israel to be financed by a syndication of banks.

 

The banks are represented by Eli Elya (Partner), Tamar Cohen (Partner), Lior Baran, Aviad Rabinowitz and Moran Ben-Moshe Sabato.

February 3rd, 2014

Gornitzky & Co. represented Fattal Hotels Ltd. in an agreement with Amot Investments Ltd. (TASE: AMOT) to lease Building C in the Amot Insurance Project in Tel Aviv, for the opening of a new business hotel.

Gornitzky & Co. represented Fattal Hotels Ltd. in an agreement with Amot Investments Ltd. (TASE: AMOT) to lease a 9,200 square meter building in Tel Aviv, for the opening of a new business hotel.


Fattal will convert the building into a 190-room business hotel under the Leonardo brand at investment of NIS 50 million. The lease is for a total of 24 years and 11 months – after the conversion of the building over a period of one year, the 20-year lease will come into effect, with an option to extend the lease by four years.


Fattal Hotels Ltd. was represented by Shlomo Cohen (Partner) and Maya Hoftman.

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.

March 1st, 2018

Gornitzky represented Fattal Holdings (1998) Ltd. in the initial public offering (IPO) of its shares.

Gornitzky represented Fattal Holdings (1998) Ltd. in the initial public offering (IPO) of its shares, along with the registration of the company's bonds for trade on the Tel Aviv Stock Exchange. Within the framework of the IPO, Fattal issued approximately 10% of its shares and raised around half a billion Shekels according to a post-money company valuation of around NIS 4.4 billion.
The company was represented by Partner Yair Shiloni, together with Associates Itamar Ben-Yehuda and Netalee Aviv.

December 14th, 2017

Gornitzky represents Fattal Group in a transaction for the purchase of 36 hotels in England, Scotland and Ireland.

Gornitzky represented Fattal Group in a joint transaction with a Swedish partner that operates 120 hotels in Northern Europe for the acquisition of the management and rental rights of 36 hotels in Jurys Inn in England, Scotland and Ireland for a period of 25 years. The total consideration of the transaction is £ 800 million and Fattal's share is £ 120 million.

 

This is the largest transaction for the purchase of hotels ever made by an Israeli company in Europe, and includes a complex series of multi-stage agreements, including finance agreements (with international and Israeli financiers), management and rental agreements and a framework agreement with the partner, inter-alia, in order to obtain the desired structure and distribution of the portfolio.

 

The companies were represented by Partners Jack Smith and Ori Yitzhak together with Associates Yael Kleinman and Samuel Berkowitz.

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

July 6th, 2015

Gornitzky represented Fattal Hotels Ltd. in the purchase of 63% of the partnership interests in Fattal Hotels Fund L.P. 

Gornitzky represented Fattal Hotels Ltd. in the purchase of 63% of the partnership interests in Fattal Hotels Fund L.P. Fattal Hotels Fund currently holds 18 hotels across Europe, including Germany, Belgium and Switzerland. The transaction reflects an aggregate value of €200 million to the portfolio. 

 

Fattal Hotels Ltd. were represented by Jack Smith (Partner), Kfir Yadgar (Partner), Ori Yitzhak and Samuel Berkowitz.

December 23rd, 2014

Gornitzky represented Bank Hapoalim in three simultaneous real-estate financing transactions with Neptune Hotel Ltd., Sella Capital Real Estate Ltd. and Issta Israel Ltd. 

Gornitzky represented Bank Hapoalim (TASE: POLI) in three separate and simultaneous real-estate financing transactions with Neptune Hotel Ltd. (of the ILDC Group), Sella Capital Real Estate Ltd. (TASE: SLARL) and Issta Israel Ltd.

 

Bank Hapoalim was represented by Eli Elya (Partner, Banking and Finance), Lior Relevy (Real Estate), Inbal Ravid-Badner, Nir Keidar and Lior Baran.

February 27th, 2013

Gornitzky & Co. represented Fattal Group in their NIS 1.5 billion purchase of 20 hotels in Germany - one of the largest hotels deals in Europe in recent years.

Gornitzky & Co. represented Fattal Group in their NIS 1.5 billion purchase of 20 hotels in Germany - one of the largest hotels deals in Europe in recent years.

 

Fattal Group, together with a consortium of international investors, signed an agreement to acquire from Goldman Sachs the entire share capital of the Queens Moat Houses (Germany) Holding GmbH, which maintains a portfolio of the 20 hotels.

 

Fattal Group was represented by Mr. Jack Smith (Partner), Mr. Dubi Gross (partner), Ms. Shiri Shani (Partner) and Mr. Yisrael Spero (Partner).