‘impressive experience in corporate and capital markets work... represents major names from the technology and energy sectors.’
Chambers Global, Corporate/M&A: Israel (Desks Based Abroad), 2013
We have a long history of representing Israeli and Israeli-related entities and have well established Israeli desks in New York, London and Ottawa. We have particular experience in advising Israeli companies on corporate, securities and financing transactions in the energy, technology, communications and infrastructure sectors worldwide.
In the United States, our involvement in Israel dates back to the early days of the State, and significantly expanded in 1972 when we acted as US counsel to Elscint Ltd in the first public offering of an Israeli high-technology company in the US. Since that time, we have actively represented companies in Israel on public and private financings, acquisitions, litigation, antitrust issues, venture capital, and organisational and restructuring activities.
Our New York team frequently represents Israeli and Israeli-related companies with shares traded in the US, and underwriters who are involved in Israeli-related transactions. Acting for either the issuer or the underwriters, we have brought many major Israeli companies to the public markets in the US, including AG Associates Inc, Ampal-American Israel Corporation, AudioCodes Ltd, Check Point Software Technologies Ltd, Crystal Systems Solutions Ltd, ECI Telecom Ltd, ECtel Ltd, Elbit Ltd, Elbit Vision Systems Ltd, Elron Electronic Industries Ltd, Formula Systems (1985) Ltd, ForSoft Ltd, 4th Dimension Software Ltd, Gilat Satellite Network Ltd, Lipman Electronic Engineering Ltd, M-Systems Flash Disk Pioneers Ltd, MER Telemanagement Solutions Ltd, MIND CTI Ltd, Nexus Telecommunications Systems Ltd, Orckit Communications Ltd, Paradigm Geophysical Ltd, Scitex Corporation Ltd, Super-Sol Ltd, Teledata Communications Ltd, Wiztec Solutions Ltd and Zoran Corporation.
We also represented Delek US Holdings Inc, a US subsidiary of Delek-The Israel Fuel Corporation Ltd, in connection with its IPO in the US. Collectively, these offerings have raised over US$2.5bn of equity funding from the US and international markets.
In the UK, we advised QueenCo Leisure International on its IPO and admission to the main market of the London Stock Exchange, which also involved a 144A offering in the US.
In addition, we have represented Bank Leumi and its affiliates in various US transactions, and certain venture capital groups and private investment funds located in Israel, including Athena Venture Partners LP, AG-Tech Ventures LP, Formula Ventures Ltd, Synergy Ventures LP and Yozma Ventures LP.
Globally, we have helped to structure and negotiate M&A transactions, debt transactions, joint ventures and licensing arrangements for Israeli companies, and have advised on the US, UK and Canada implications of international corporate, merger and acquisition transactions.
Our involvement in projects in Israel includes advising on the financing of one of Israel’s major infrastructure projects, the Tel Aviv Metropolitan Mass Transit System Project. We are also active in advising Israeli companies on their outward investment projects into emerging and growth markets, including Africa.
To consult with us on your Israel-related issue, contact Neil Gold, David Sinclair, Ned Steinman or Steven Suzzan.
Our areas of work include
- banking and finance
- corporate, M&A and securities
- dispute resolution and litigation
- projects and project finance
- real estate
Corporate, M&A and securities
- Advising Lipman Electronic Engineering Ltd in connection with its sale to VeriFone Holdings, Inc. for US$800m.
- Advising the US subsidiaries of Delek - The Israel Fuel Corporation, Ltd. in three US acquisitions: the (i) acquisition of the stock of Williamson Oil Co Inc, which operated convenience stores and gasoline stations, primarily in Alabama, (ii) purchase of 198 gasoline station locations, predominantly in Tennessee, from Williams Express Inc, and (iii) purchase of 36 convenience stores in Virginia from East Coast Oil Corporation.
- Advising Paradigm Geophysical Ltd, a publicly traded company, in connection with the sale of the company to an affiliate of Fox Paine & Company LLC for approximately US$100m.
- Advising Queenco Leisure International on its IPO and admission to the main market of the London Stock Exchange with a market capitalisation of €507m. This involved a 144A offering in the US market.
- Advising SHL Telemedicine Ltd in connection with its acquisition of Raytel Medical Corporation, a publicly traded company.
- Advising PPHE Hotel Group Ltd (formerly Park Plaza Hotels Ltd) on its admission to AIM, and its subsequent move up to the official London Stock Exchange.
- Advising Deloitte LLP in connection with the privatisation of Delek Global Real Estate by its controlling shareholder, Delek Belron Limited.
- Acting for the Red Sea Group, an Israeli contractor and developer, which owns 44% of the PPHE Hotel Group Ltd, in connection with various projects, including the development of the Park Plaza Westminster Bridge, London, the largest new hotel in London for 40 years.
- Assisting Israel Electric Corporation with winning a US$2bn award from suppliers over a breach of contract to supply gas to Israeli commercial users.
- Advising Israel Chemicals Limited and OPC Ramat Hovav Limited, on the purchase of gas from offshore gas fields for use in industrial processes and power regeneration.
- Advising the Government of the State of Israel on a proposal to develop an offshore LNG receiving terminal.
- Advising Delek US Holdings Inc (i) in the purchase of a controlling interest in Lion Oil Company, which owns a refinery in Arkansas plus related terminals and pipelines, and (ii) in three separate sale transactions of oil and gas properties located in the western United States.
- Advising Israel Electric Corporation on gas purchase contracts.
- Advising the US subsidiaries of Delek-The Israel Fuel Corporation Ltd in connection with arranging long-term financing of prior acquisitions and in connection with the negotiation and closing of a $250m revolving credit and letter of credit facility arranged by SunTrust Bank to finance working capital needs relating to newly acquired refinery assets.
Technology and innovation
- Advising AudioCodes Ltd in a US$125m issuance of convertible debt under Rule 144A and in a subsequent tender offer for US$75m of this convertible debt.
- Advising Orckit Communications Ltd in connection with the spin-off of Tioga Technologies Ltd, Orckit's semi-conductor division.
- The Chambers Global Guide recognized our practice as a leader for its Corporate/M&A work in Israel. (2013 and 2012)
- The Chambers Global Guide recognized one of our lawyers as a leading individual for Corporate/M&A work in Israel. (2012)
- Our Israel team is recognized by Chambers Global Guide for a “very proactive and very thorough” attitude and for its “knowledgeable and approachable” lawyers. (2011)