December 10, 2019

ADO - Adler Acquisition Deal Closed

Gornitzky represented ADO Group, an Israeli real estate company traded on TASE, in its acquisition by Adler Real Estate AG, a German company traded in Frankfurt, for over 708 million Euros, closed on December 10th 2019.

The deal was executed by an inverse triangular merger of an Israeli company established by Adler into ADO, becoming an Adler subsidiary. As part of the deal, ADO sold near 5% of its subsidiary, ADO Properties (a Luxemburg based company traded in Germany) shares for 74 million Euro. Ado Group will continue to be a reporting company in Israel, due it will carry on trading its debentures in the TASE.

ADO was represented by partners Chaim Friedland, Yair Shiloni and Ari Fried together with associates Danielle Skald, Dr. Yehonatan Shiman and Moshe Sevi.

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