Our firm represented entities within the Migdal Group in connection with a financing transaction with the Shay Hai Group, which is engaged in real estate development and urban renewal projects. Under the transaction, Migdal will make available to Shay Hai Venturing and Enterprises Ltd. credit facilities in an aggregate amount of NIS 200 million, to be secured in part by pledges over project surplus proceeds from the projects led by the company, as well as by guarantees from the controlling shareholder and other group companies.
The transaction involved numerous complex aspects, including preparations for an anticipated change in the group structure, as well as an equity component pursuant to which entities within the Migdal Group were granted options representing approximately 12% of the shares in companies within the Shay Hai Group, together with an agreement in principle to enter into a shareholders’ agreement regulating the legal relationship between the parties following exercise of the option.
לכתבה במרכז הנדלן לחצו כאן
לכתבה בגלובס לחצו כאן
