A raft of cross-border deals has hit the headlines during Passover and since, the standout arguably UK company Entain’s USD 200 million purchase of the Israeli sports app 365Scores Erdinast, Ben Nathan, Toledano & Co. With Hamburger Evron acting for the target). Israel’s Sisram Medical has also expanded its footprint in mainland China with the purchase of PhotonMed, with Arnon, Tadmor Levy acting for the buyer. Green Mountain, owned by Israel’s Azrieli Group and represented by Taylor Wessing, is to set up a new data center in Germany with energy company, KMW. Ormat Technologies issued a further USD 340 million in equity on the NYSE, with Herzog and Davis Polk advising, while Chapman and Cutler advised the Israeli bond trustee in the Chapter 11 reorganization of the real estate company, All Year Holdings.
This past week saw Moody’s downgrade the outlook on Israel’s credit rating, and Erdinast, Ben Nathan, Toledano & Co. With Hamburger Evron has penned an update explaining the impact, by Dan Sella and Roy Gross. Meanwhile, there were two separate insightful reports in Globes, one exploring how a Saudi sovereign wealth fund has made extensive investments in Israeli tech companies, and another examining why insurance companies in Israel are snapping up credit card companies.
S. Horowitz partners, Avi Ordo and Moran Katz write about how a service in Israel – whether through an attorney or a representative – is likely to encounter more hurdles than before and Davis Polk partners Michael Kaplan and Pedro Bermeo write about Direct listings: a viable alternative to traditional IPOs.
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