David Schapiro, Peter Sugarman and Avraham Ben-Tzvi represented Roads Limited Partnership (TSI), in its acquisition of the interests in Derech Eretz Highways (DEC) that are presently owned by Shikun & Binui Ltd., the concessionaire for the Highway 6 BOT project, for NIS 773 million. TSI is an Israeli partnership established and managed by the Israel Infrastructure Fund, with participation by leading institutional investors - such as Harel Insurance, among the limited partners.
Yigal Arnon & Co., BDO and The Luzzatto Group continued the tradition and cooperated again in the 6th High-tech Conference "What's ahead for the Israeli High-tech?" that took place on September 20, 2011, in the Dan Hotel in Tel Aviv. The focus of the conference was on the financing challenges in the high-tech industry in times of a global economic crisis.
Doron Tamir, chairman of the Ethics Committee of the Jerusalem District Bar Association, expresses his opinion about the judges feedback.
Barry Levenfeld, Kobi Ben Chitrit, David Roness and Avigail Frisch represented Lightech Electronic Industries Ltd. in its sale to General Electric. The transaction is expected to close in the coming weeks. Situated in Lod, Lightech is a leading producer of advanced LED lighting technologies and systems. The value of the deal is estimated at 15-20 million dollars approximately.
Yigal Arnon & Co. sponsored the Bootcamp Ventures' event "First Israel Innovation Road Trip" that took place in Boston and New York on July 11-13.
BootCamp Ventures are bringing the most promising emerging technology companies from Israel to interact with leading digital media, mobile and technology executives, investors and serial entrepreneurs. This Israeli technology investment conference is targeting financial investors, corporate development andbusiness development heads of media, mobile and IT companies who look for innovative technologies as potential investors, partners, or customers.
Adrian Daniels and Simon Weintraub are participating and presenting in this event.
For further details: www.innovationroadtrip.com
David Schapiro and Eliran Furman represented TowerJazz in an an agreement to sells its holdings in Hua Hong Semiconductor Ltd. (HHSL), one of Mainland China's leaders in the field of Integrated Circuit foundry service. Pursuant to the agreement HHSL will repurchase the shares held by TowerJazz (representing approximately 10% of its outstanding shares) in a buyback transaction, for $32 million in cash.
Adv. Barry Levenfeld, chairman of the board of the Israeli environmental advocacy group Adam Teva V’Din welcomed participants to the "Clean Air – New Technologies and Approaches from the Netherlands Conference" organized by the Dutch embassy in Tel Aviv, and expressed the organization’s commitment to the ongoing implementation of the Israeli Clean Air Act that came into effect in January:
“The Clean Air Act will not remain a footnote in the law books. The Clean Air Act is one of the most important achievements for Israel’s environment in the last decade. We now begin the arduous task of implementing and enforcing the new law,” said Levenfeld, who is also a partner in the law firm, Yigal Arnon & Co. We at Adam Teva v’Din always look to our European partners, who are years ahead of us, for inspiration and guidance.”
Yigal Arnon and Co. co-sponsored the 2011 Tel Aviv Institutional Investment Conference- Israel's largest Institutional Investor event that brings approximately 650 investment managers and investment committee members of pension, provident and mutual funds, nostro managers at the local banks and insurance firms, CFOs of large cap firms and private institutional investors.
Gil Oren participates in the panel "The Credit Market - three Years of global economic Crisis" and Peter Sugarman participates in the panel" Investment in Infrastructure, Real Estate and Energy".
Yigal Arnon & Co. received an excellence award for its pro-bono activity. The award was given by the Bar Association in conjunction with Dun & Bradstreet.
The certificate was presented at a ceremony held at the Bar Association’s annualconference in Eilat, with many Court justices and the representatives of leading law firms in attendance. At the ceremony, Doron Tamir accepted the certificate on behalf of Yigal Arnon & Co, which was recognized as a leading firm in the pro-bono legal field.
David Schapiro, Eliran Furman, and Avraham Ben Tzvi represented Tower Semiconductor Ltd. in acquisition of large semiconductor fabrication facility in Japan doubling Tower's capacity worldwide. Peter Sugarman assisted with IP matters. On June 3, 2011, Tower completed the purchase of a huge facility in Japan, from Idaho based Micron Technology, Inc., in a global deal which was active 24 hours a day for several months with lawyers from California, Idaho, New York, Israel and Japan. The complex acquisition included several key components, including the acquisition of the facility itself, for consideration composed of 40 million dollars in cash, about 30 million dollars in Tower shares and an additional assumption of long term obligations of the facility in an approximate amount of 70 million dollars, for a total of 140 million dollars. In addition the transaction included the execution of a committed supply agreement between the parties pursuant to which Tower would manufacture products for Micron in the acquired fab during 2011-2014 for an aggregate price in the range of hundreds of millions of dollars.
Yigal Arnon& Co. and Entropy Consultants hosted a professional conference on June 2, 2011 on Corporate Governance and Enforcement Plan for public companies.The conference included a presentation of the significance of corporate governance and compliance to directors and officers, and a discussion of the legal aspects of the new guidelines regarding an enforcement plan for a public company and the ways in which to deal with them.
Doron Tamir participated in a panel discussion on "Tenders and Innovations" at the 11th annual conference of the Israel Bar Association, that was held in Eilat on May 29 - June 2, 2011.
BDI 2011 edition top ranks Yigal Arnon & Co. in 15 practice areas, recognizing the firm as one of the leading firms in Israel. The firm is ranked 'Tier 1' in: Corporate/M&A, Hi-tech, Capital Markets, International Commercial Law, Class Actions, Banking & Financial Services, Real estate, Projects & Energy, Administrative Law and Environment; ' Tier 2' in Commercial Litigation, Insolvency & Restructuring, Competition/Antitrust, Telecommunications, and Tax.
Legal 500 2011 edition top ranks Yigal Arnon & Co. in 11 practice areas, recognizing the firm as one of the leading firms in Israel. The firm is ranked 'Tier 1' in Corporate/M&A, Hi-tech, start-ups & venture capital, and Real estate; ' Tier 2' in Banking & Finance, Capital Markets, Dispute Resolution, Projects & Energy, Competition/Antitrust, Telecoms & Media, and Tax; and 'Tier 3' in Intellectual property. In addition, 5 Yigal Arnon partners have been ranked as leading individuals in their field.
Advocates Barry Levenfeld, Yarom Romem, Ben Sandler, Yair Benjamini, Avigail Frisch and Zohar Nevo acted as Israeli counsel for Align Technologies in the acquisition of Cadent Holdings for $190 million. Cadent develops products and services for restorative dentistry and orthodontics, including intra-oral scanners. It has offices in New Jersey and a R&D center in Or Yehuda. Cadent has raised $75 million since it was founded in 1995.
According to Dun & Bradstreet's 2011 Israeli law firm quality rankings by practice, Yigal Arnon & Co. is ranked in 12 practice areas and is one of Israel’s top two leading law firms.
Dun & Bradstreet researched 815 law firms in Israel by practice area and ranked Yigal Arnon & Co. as a "leading law firm" (Tier 1) in nine of the most important practice areas: Mergers & Acquisitions; High-Tech; Real Estate & Construction; Project Finance & Infrastructure; International Commercial; Banking; Capital Markets & Public Offerings; Commercial Litigation; Class Actions. In addition, the firm was ranked as a "prominent law firm" (Tier 2) in Tax, Telecommunication and Administrative law. Unlike other D&B rankings, which are based merely on size or number of lawyers, this survey is based on quality.
Barry Levenfeld lectured on M&A in Israel in the Boston Bar Association Event, regarding US-Isreal Cross-Border Corporate Transactions, that took place March 29. The goal of the event was to give U.S.- based business attorneys an Israeli perspective on U.S.-Israel crossborder transactions, and transactions that involve Israel-related entities.
Adv. Eliran Furman represented Amimon (a developer of chips that enable fast wireless transmission of video signal and which won the Globes most promising start-up of 2009 award) in its 15 million dollar round of financing which closed in March 2011, in which both existing and new investors participated.
Chambers and Partners 2011 edition top ranks Yigal Arnon & Co. in 8 practice areas, placing the firm as one of the top 2 leading firms in Israel. The firm is ranked 'Band 1' in Corporate/M&A – High-tech and in Real estate; and 'Band 2' in Banking & Finance, Capital Markets, Corporate/M&A, Dispute Resolution, Projects & Energy and Tax. In addition, 11 Yigal Arnon partners have been ranked as top lawyers in their field.
On March 7, 2011, the Knesset enacted an amendment to the Companies Law, which was officially published on March 15, 2011.
The main purpose of the Amendment is to revise and enhance many provisions in the Companies Law concerning corporate governance practices – mostly with respect to publicly traded corporations, though certain provisions apply to private companies as well.
The following is a concise list highlighting the principal provisions of the Amendment.
Yigal Arnon & Co. co-sponsored High-tech conference in Jerusalem with Luzatto & Luzzato and BDO. Barry Levenfeld, partner, lectured on "Exit on the horizon: High-tech companies preparing for an M&A IPO".
Ben Sandler participated in the UK sixth annual conference on Managing an International Workforce, sponsored by Lewis Silkin LLP and Ius Laboris. Ben was on the panel that addressed the full plenum on diversity and discrimination issues: "Diversity: The challenge of implementing global initiatives".
Barry Levenfeld chaired the session on Merger and Acquisitions of Life Science and Technology Companies in the International Bar Association Conference on "The Globalization of Knowledge-Based Industries" that took place in Tel Aviv, at the Hilton Hotel, on February 9-11.
According to the annual review of class actions filed in Israel during 2010, that was presented in the annual conference 'Class Actions in Israel' held by "Halacha Le'ma'ase" center, Yigal Arnon & Co. is the leading firm in representing defendants in class actions during 2010.
Barak Tal heads the Class Action Defense group of the office.