This past week saw a milestone class action come to an end and a landmark transaction completed.
The Israeli Supreme Court rejected an appeal to certify a class action against the holders of the “Tamar” gas reservoir. Agmon & Co. Rosenberg Hacohen & Co. represented the defendants in the largest class action by damages, which had alleged that Tamar overcharged for gas supplied to the Israel Electric Company. Meanwhile, the NIS 4.1 billion acquisition of Haifa Port by India’s Adani Group and GADOT Group, represented by Godfarb Seligman and whose owner TENE CAPITAL was represented by Erdinast, Ben Nathan, Toledano & Co. With Hamburger Evron and Gross Law Firm – GKH represented the State , left the port in Ashdod as the only port owned by the State.
While Greenberg Traurig Tel Aviv Traurig advised Israeli Steakholder FoodsLtd. on its USD 6.5 million Public Offering on Nasdaq, Pearl Cohen discussed, in the Jerusalem Post, how the Tel Aviv Stock Exchange is a strong alternative for companies previously looking to list on global markets. White & Case LLP’s Daniel Turgel comments on what will startup exits look like in 2023.
At the early stages for companies, seed financing appears strong, despite lower amounts raised in December, with Israeli start-ups attracting over USD 500 million.
Meanwhile, good news for Herzog, which snagged top spot in Mergermarket’s Deal Volume table for the Middle East and Africa. Gornitzky & Co. was highlighted for highest M&A deal value in Israel.
The recent PwC Israel annual report, Israel tech exits down 80% in 2022, however, according to the Israel Economy Ministry High-tech helps Israel’s exports climb to record $160 billion in 2022.
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