The banking sector has dominated the headlines this past few weeks following the collapse of Silicon Valley Bank, which saw reassurances from President Biden, HSBC buy the UK arm of the collapsed bank, and Israeli officials and law firms reassure start-ups concerned by their exposure to SVB. Recently, Swiss USB bought Credit Suisse, the second largest Swiss bank, which faced its own crisis of confidence.
While this sector remains very much in the spotlight, some headline deals continued to be completed. DLA Piper advised Azrieli and Green Mountain on a major data storage agreement with TikTok, as that company faced its own battles in the U.S. Supreme Court. Ormat Technologies raised USD 300 million on Wall Street, eToro completed a USD 250 million financing, at a USD 3.5 billion valuation, while Naschitz, Brandes, Amir and Foley & Lardner advised buyer Gilat Satellite Networks on an acquisition that looks set to further bolster its presence in the growing defense market. DLA Piper and Greenberg Traurig are acting as legal counsel for the target company. Herzog represented Clal Insurance as it join forces with PPHE Hotel Group in connection with a new hotel fund.
We finish this weeks roundup with news, updates and events from our member firms – Belinda Schwartz, co-chair of Herrick, Feinstein’s Israel practice, is appointed Executive Chair of the firm, becoming one of the few women in the US leading a major law firm. Barak Platt and Daniel Damboritz, Partners at Arnon, Tadmor-Levy, contribute a frank assessment of Israel’s corporate environment over the past year and Pillsbury Winthrop Shaw Pittman LLP is inviting you to attend the the ‘US – ISRAEL Technology MeetUp’ which will take place March 30th in Palo Alto.
Click here to read the weekly roundup.
