Gornitzky represented International Flavors & Fragrances Inc. (IFF), a publicly traded company on the NYSE, in its acquisition by way of a reverse triangular merger of Frutarom Industries Ltd., a publicly traded company on the TASE, for cash and shares. This deal, totalling over US $7 billion, was the second largest in Israel’s history.
The transaction included, amongst other things, dual listing of IFF’s shares in the Tel Aviv Stock Exchange, accompanied by publishing a prospectus in Israel. Subsequently, IFF is the second largest company listed on the Tel Aviv Stock Exchange with a market value of over US $12.6 billion.
IFF was represented by partners Chaim Friedland, Ari Fried and Uri Heller, together with associates Itamar Ben Yehuda, Nir Knoll and Netanel Kahane.
Partners Daniel Paserman and Gil Grady, together with associates Danielle Skald and Lilach Shamir assisted with the tax aspects.
Partner Michael Ayalon and associate Ori Sheinkman assisted with the labor aspects.
Partner Lior Relevy and associate Lior Grinblat assisted with the real estate aspects.