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News

15 November 2020

Yigal Arnon & Co. represented Cellcom in a petition against the Ministry of Education

Advs. Oren Roth, Noam Shochat and Guy Ziv-Shalom represented Cellcom in a petition against the Ministry of Education after Cellcom was refused to participate in a tender for school supplies, claiming that the Ministry of Education relied on a previous tender won by Pelephone and Partner in 2016.
Advs. Oren Roth, Noam Shochat and Guy Ziv-Shalom represented Cellcom in a petition against the Ministry of Education after Cellcom was refused to participate in a tender for school supplies, claiming that the Ministry of Education relied on a previous tender won by Pelephone and Partner in 2016.
Globes (Hebrew)
11 November 2020

Yigal Arnon & Co. represented One Technologies in its acquisition of Taldor for NIS 250 million

Attorneys Shiri Shaham and Shai Margalit from our firm represented One Software Technologies in it's merger with Taldor Computer Systems. The merger will be carried out by way of a reverse triangular merger, at the end of which One Technologies will hold all the shares in Taldor for NIS 250 million.
Attorneys Shiri Shaham and Shai Margalit from our firm represented One Software Technologies in it's merger with Taldor Computer Systems. The merger will be carried out by way of a reverse triangular merger, at the end of which One Technologies will hold all the shares in Taldor for NIS 250 million.

30 October 2020

Yigal Arnon & Co. represented Goldman Sachs in the USD $180 million global bond offering for Delek Overriding Royalty Leviathan Ltd.

Advs. Simon Weintraub, Avi Anouchi, Idan Adar togehter with Zahava Moerdler and the intern Dana Kleiman and with assistance from Shiri Shaham, Ofir Levy and Shai Margalit, represented and served as Israeli legal counsel to the Sole Bookrunner and Global Coordinator, Goldman Sachs and the Initial Purchasers including Leader, in the oversubscribed USD $180 million global bond offering for Delek Overriding Royalty Leviathan Ltd., a wholly owned subsidiary of Delek Energy Systems Ltd., with respect to financing the purchase of overriding royalty rights in the Leviathan offshore natural gas project. 
Advs. Simon Weintraub, Avi Anouchi, Idan Adar togehter with Zahava Moerdler and the intern Dana Kleiman and with assistance from Shiri Shaham, Ofir Levy and Shai Margalit, represented and served as Israeli legal counsel to the Sole Bookrunner and Global Coordinator, Goldman Sachs and the Initial Purchasers including Leader, in the oversubscribed USD $180 million global bond offering for Delek Overriding Royalty Leviathan Ltd., a wholly owned subsidiary of Delek Energy Systems Ltd., with respect to financing the purchase of overriding royalty rights in the Leviathan offshore natural gas project. 

30 September 2020

Yigal Arnon & Co. represented Fosun Health Fund in an exclusive license and supply agreement

Advs. Micki Shapira, Daniel Green and Sophy Litvin represented Fosun Health Fund (the venture capital arm of Fosun Pharma) in an exclusive license and supply agreement with Raziel Therapeutics to develop and commercialize Raziel's proprietary RZL-012, an injection used for reducing double chins, in mainland China, Hong Kong, Macau, and Taiwan for milestone payments of up to $74 million plus tiered royalties on future sales. The team was joined by advs. Miriam Friedmann, Inbar Hakimian-Nahari and intern Yang Cheng.
Advs. Micki Shapira, Daniel Green and Sophy Litvin represented Fosun Health Fund (the venture capital arm of Fosun Pharma) in an exclusive license and supply agreement with Raziel Therapeutics to develop and commercialize Raziel's proprietary RZL-012, an injection used for reducing double chins, in mainland China, Hong Kong, Macau, and Taiwan for milestone payments of up to $74 million plus tiered royalties on future sales. The team was joined by advs. Miriam Friedmann, Inbar Hakimian-Nahari and intern Yang Cheng.

15 September 2020

Hot to Enter into a partnership with the Israel Electric Corporation, Cellcom and IIF in the IBC fiber project

HOT's investment deal in the online fiber infrastructure company IBC (known as Unlimited) was signed. When the transaction is completed, HOT will join Cellcom and IIF - Israel Infrastructure Fund (represented by Yigal Arnon & Co.) in equal ownership of 70% of IBC's shares.
IBC which was set out on a new path last year when Cellcom and IIF acquired 70% of its shares (transactions in which we represented IIF and the company's shareholders accordingly), is significantly strengthened by this new deal, which will hopefully take all of us as internet consumers a few steps closer to high-speed Internet infrastructure services. Our team lead by Adv. David Schapiro and with the assistance of Adv. Vered Glaubach negotiated this deal solely via online communication, proving the necessity of high-speed fiber infrastructure Internet.
 
HOT's investment deal in the online fiber infrastructure company IBC (known as Unlimited) was signed. When the transaction is completed, HOT will join Cellcom and IIF - Israel Infrastructure Fund (represented by Yigal Arnon & Co.) in equal ownership of 70% of IBC's shares.
IBC which was set out on a new path last year when Cellcom and IIF acquired 70% of its shares (transactions in which we represented IIF and the company's shareholders accordingly), is significantly strengthened by this new deal, which will hopefully take all of us as internet consumers a few steps closer to high-speed Internet infrastructure services. Our team lead by Adv. David Schapiro and with the assistance of Adv. Vered Glaubach negotiated this deal solely via online communication, proving the necessity of high-speed fiber infrastructure Internet.
 

02 September 2020

Yigal Arnon & Co. represented HSBC Bank and JPMorgan Chase in the bond offering by Delek Drilling Limited Partnership of $2.25 billion

Advs. Simon Weintraub, Avi Anouchi, Idan Adar, Vered Glaubach and intern Dana Kleinman represented the Joint Bookrunners HSBC Bank and JPMorgan Chase as well as other initial purchasers in the bond offering by Delek Drilling Limited Partnership in one of the largest international bond transactions of the year in the energy field - $2.25 billion in debt - amid huge demand of $7 billion from foreign and Israeli investors. The offering will help finance development of the Leviathan natural gas project. The team was joined by Advs. Shiri Shaham, Ofir Levy, Shai Margalit and Ofir Paz, and intern Or Perel.
Advs. Simon Weintraub, Avi Anouchi, Idan Adar, Vered Glaubach and intern Dana Kleinman represented the Joint Bookrunners HSBC Bank and JPMorgan Chase as well as other initial purchasers in the bond offering by Delek Drilling Limited Partnership in one of the largest international bond transactions of the year in the energy field - $2.25 billion in debt - amid huge demand of $7 billion from foreign and Israeli investors. The offering will help finance development of the Leviathan natural gas project. The team was joined by Advs. Shiri Shaham, Ofir Levy, Shai Margalit and Ofir Paz, and intern Or Perel.

02 September 2020

Yigal Arnon & Co. represented the Lead Arrangers HSBC Bank and BNP Paribas in the USD $650 million loan financing to Ratio

Advs. Simon Weintraub, Avi Anouchi, Vered Glaubach, Idan Adar and intern Dana Kleinman represented the Lead Arrangers HSBC Bank and BNP Paribas together with a syndication of lenders from Israel and from abroad in the USD $650 million loan financing to Ratio Oil Exploration LP to fund Ratio's commitments to the Leviathan natural gas project. The team was joined by Advs. Shiri Shaham, Ofir Levy, Yuval Shalheveth, Dror Varsano, Shani Rappaport and Ofir Paz. This important financing for the Leviathan Project closed just days after our firm's representation of the underwriters in the Delek Bond Offering.
 
Advs. Simon Weintraub, Avi Anouchi, Vered Glaubach, Idan Adar and intern Dana Kleinman represented the Lead Arrangers HSBC Bank and BNP Paribas together with a syndication of lenders from Israel and from abroad in the USD $650 million loan financing to Ratio Oil Exploration LP to fund Ratio's commitments to the Leviathan natural gas project. The team was joined by Advs. Shiri Shaham, Ofir Levy, Yuval Shalheveth, Dror Varsano, Shani Rappaport and Ofir Paz. This important financing for the Leviathan Project closed just days after our firm's representation of the underwriters in the Delek Bond Offering.
 

13 August 2020

Yigal Arnon & Co. represented the Arena Group in a lawsuit for a brokerage fee of NIS 6 million

Advs. Nir Rosner, Roey Sasson and Amnon Lorch represented the Arena Group in a lawsuit in which businessman Roni Mana sought a brokerage fee of NIS 6 million for the sale of the Arena Mall in Herzliya to Reality Investment Fund. The lawsuit was dismissed and the plaintiff was ordered to pay NIS 160k - a fairly high and unusual amount - to the Arena Group.
This judgment summarizes the main practices of real estate brokerage and details why unjust enrichment is not an alternative remedy in cases where a brokerage fee should not be paid.
Advs. Nir Rosner, Roey Sasson and Amnon Lorch represented the Arena Group in a lawsuit in which businessman Roni Mana sought a brokerage fee of NIS 6 million for the sale of the Arena Mall in Herzliya to Reality Investment Fund. The lawsuit was dismissed and the plaintiff was ordered to pay NIS 160k - a fairly high and unusual amount - to the Arena Group.
This judgment summarizes the main practices of real estate brokerage and details why unjust enrichment is not an alternative remedy in cases where a brokerage fee should not be paid.

21 July 2020

Yigal Arnon & Co. represented Bioventus in its investment in Cartiheal

Advs. Ben Sandler and Barry Levenfeld represented orthologics company Bioventus in its investment in the Israeli medical device company Cartiheal, including in signing an option to buy it. Assisted alongside David Roness, Ofir Levy, Daniel Marcovici, Daniel Green, Eli Greenbaum, Guy Fuhrer, Miriam Friedmann, Shira Teger, Tali Har-Oz, Hadar Stein, Chaim Cohen, Chaya Alexandra Y.N. Kong, Sophy Litvin, Nir Kamhi, Ofir Paz, Shmuel Brill and interns Noah Levy, Katya Kagantsov and Danya Sakols.
Advs. Ben Sandler and Barry Levenfeld represented orthologics company Bioventus in its investment in the Israeli medical device company Cartiheal, including in signing an option to buy it. Assisted alongside David Roness, Ofir Levy, Daniel Marcovici, Daniel Green, Eli Greenbaum, Guy Fuhrer, Miriam Friedmann, Shira Teger, Tali Har-Oz, Hadar Stein, Chaim Cohen, Chaya Alexandra Y.N. Kong, Sophy Litvin, Nir Kamhi, Ofir Paz, Shmuel Brill and interns Noah Levy, Katya Kagantsov and Danya Sakols.

15 July 2020

Yigal Arnon & Co. represented Peninsula in acquiring Union Bank's diamond dealers credit portfolio

Advs. Yuval Shalheveth, Daniel Marcovici and Moshe Pasker represented the Peninsula Group in acquiring Union Bank's diamond dealers credit portfolio, currently (June 2020) valued at $91 million and potentially up to $250 million (assuming all credit lines are utilized). In return, Peninsula will pay an amount equal to the size of the credit portfolio at the time of completion at a discount of between 30% and 45%, subject to the size of the portfolio. The portfolio also includes bad and doubtful debts amounting to over $160 million which will be transferred to Peninsula without any consideration. Negotiations were carried out with representatives of Mizrahi Bank and Union Bank which one of them, as part of the terms of their merger, must sell its credit portfolio, as determined by the Director General of the Israel Competition Authority. The transaction is subject to conditions precedent and in particular the completion of the merger between the banks. 
Advs. Yuval Shalheveth, Daniel Marcovici and Moshe Pasker represented the Peninsula Group in acquiring Union Bank's diamond dealers credit portfolio, currently (June 2020) valued at $91 million and potentially up to $250 million (assuming all credit lines are utilized). In return, Peninsula will pay an amount equal to the size of the credit portfolio at the time of completion at a discount of between 30% and 45%, subject to the size of the portfolio. The portfolio also includes bad and doubtful debts amounting to over $160 million which will be transferred to Peninsula without any consideration. Negotiations were carried out with representatives of Mizrahi Bank and Union Bank which one of them, as part of the terms of their merger, must sell its credit portfolio, as determined by the Director General of the Israel Competition Authority. The transaction is subject to conditions precedent and in particular the completion of the merger between the banks. 

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