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News

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. 

13 July 2020

משרד יגאל ארנון ושות' מיצגים את הולמס פלייס בעתירתם לבג"ץ

Advs. Ido Chitman, Edan Regev and Guy Yarom represent gym and fitness club chain Holmes Place Israel in a petition to the High Court of Justice against the forced closure of gyms in Israel due to Covid-19. The petition, aimed at the Israeli government and Israel's PM Netanyahu, claims the decision to force gyms in Israel to cease operation was arbitrary and the presumption that gyms are a focal point for transmitting the Covid-19 virus has no factual basis.
 
Advs. Ido Chitman, Edan Regev and Guy Yarom represent gym and fitness club chain Holmes Place Israel in a petition to the High Court of Justice against the forced closure of gyms in Israel due to Covid-19. The petition, aimed at the Israeli government and Israel's PM Netanyahu, claims the decision to force gyms in Israel to cease operation was arbitrary and the presumption that gyms are a focal point for transmitting the Covid-19 virus has no factual basis.
 

09 July 2020

Special Counsel Tamar Tavory joins Yigal Arnon & Co.

Adv. Tamar Tavory recently joined our firm as special counsel and will be strengthening the firm’s digital health practice, with a particular focus on telehealth, AI in medicine, medical research, and secondary use of medical data.
Adv. Tamar Tavory recently joined our firm as special counsel and will be strengthening the firm’s digital health practice, with a particular focus on telehealth, AI in medicine, medical research, and secondary use of medical data.

02 July 2020

Yigal Arnon & Co. represented Barclays in the IPO of Polipyd

Advs. Barry Levenfeld, Adrian Daniels, Noah Zivan, Vered Glaubach and intern Nitzan Bigman represented Barclays in their role as underwriters in the IPO of clinical-stage bio-pharmaceutical company PolyPid on Nasdaq, in which $60 million were raised. They were joined by Shira Lahat, Daniel Green, Miriam Friedmann, Sophy Litvin, Dr. Eran Lempert, Assaf Mesica and Shai Margalit.
Advs. Barry Levenfeld, Adrian Daniels, Noah Zivan, Vered Glaubach and intern Nitzan Bigman represented Barclays in their role as underwriters in the IPO of clinical-stage bio-pharmaceutical company PolyPid on Nasdaq, in which $60 million were raised. They were joined by Shira Lahat, Daniel Green, Miriam Friedmann, Sophy Litvin, Dr. Eran Lempert, Assaf Mesica and Shai Margalit.

21 June 2020

Yigal Arnon & Co. represented Appnext in its acquisition by Affle India

Advs. Peter Sugarman, Noah Zivan and intern Dina Wecker represented application discovery and recommendation platform Appnext in its acquisition by global technology company Affle India. A transaction in which both parties are not Israeli companies (with the seller having Israeli shareholders). Negotiations were carried out over the Covid-19 lockdown period in Israel, India and Singapore. 
Advs. Peter Sugarman, Noah Zivan and intern Dina Wecker represented application discovery and recommendation platform Appnext in its acquisition by global technology company Affle India. A transaction in which both parties are not Israeli companies (with the seller having Israeli shareholders). Negotiations were carried out over the Covid-19 lockdown period in Israel, India and Singapore. 

15 June 2020

Yigal Arnon & Co. represented Plancl in a $16 million Series B equity financing round

Advs. Eliran Furman, Avi Anouchi, Noah Zivan and intern Evyatar Katz represented insurtech startup Planck, which develops an insurance data analytics platform, in a $16 million Series B equity financing round‎. 
 
Advs. Eliran Furman, Avi Anouchi, Noah Zivan and intern Evyatar Katz represented insurtech startup Planck, which develops an insurance data analytics platform, in a $16 million Series B equity financing round‎. 
 

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