The Carasso Group signed a conditional sale agreement for the purchase of car leasing and rental company “Cal Auto” which, subject to several suspensive conditions, will enter into effect. This is a strategic transaction that will expand Carasso’s car leasing and rental activities.
Cal Auto has line of credit from the banking industry, excluding the First International Bank Ltd. Cal Auto’s liabilities amount to NIS 1.45 billion, with total assets amounting to NIS 1.6 billion. As part of the transaction, Carasso assumed Cal Auto’s liabilities.
Cal Auto Group is represented by adv. Amir Bar-Tov and Ayelet Berkovich Simchovitch.
The companies Ortam Sahar Engineering Ltd, Ortam Sahar Infrastructures and Construction Ltd. and Malibu Construction Ltd. (hereinafter – “the Ortam Group”), with respect to which a creditors arrangement was authorized in 2016 by the Tel Aviv Jaffa District Court, filed a petition to commence proceeding, by way of a stay of proceedings, due to cash flow difficulties the Group experienced in the wake of the creditors arrangement. This was due to the group’s inability to take out loans in order to issue bank guarantees for the parties that commissioned the projects, to support their new activity. The president of the Tel Aviv Jaffa District Court, the Hon. Judge E. Orenstein, granted the motion and appointed the trustees for the previous arrangement as trustees for the Group companies.
The companies were represented by adv. Amir Bar-Tov and Shimrit Melman from our Firm.
Dori Construction Ltd. has filed through our Firm – adv. Amir Bar-Tov, Shimrit Melman and Liron Sapir, a motion for stay of proceedings with the Tel Aviv-Jaffa District Court, in view of the numerous legal proceedings initiated by project developers, which caused the company cash flow problems.
The motion for stay of proceedings included an offer by the controlling shareholder, Amos Luzon Development and Energy Ltd. to reach a creditors’ arrangement, to settle the company’s debts in an orderly fashion under the court’s supervision.
Our firm represented Namco Realty, which holds commercial shopping centers across the USA, in a NIS 400 million (400,000,000 NIS) bond raise on the TASE.
Our firm represented Elad Canada (owned by Mr. Yitzhak Tshuva) in a NIS 500 million (500,000,000 NIS) bond raise on the TASE.
In 2019, the firm accompanied in a groundbreaking and first-of-its-kind IPO Prospectus, when for the first time ever, a U.S. REIT with an UPREIT structure was introduced on the TASE to offer shares to the Israeli public, for which reason the REIT underwent the full listing process in Israel and not a dual listing.
Our firm represented the huge real-estate developer Westdale Properties, from Dallas, Texas, in a NIS 500 million bond raise (IPO) on the TASE, conducted by way of book building.
As in previous years, our firm has been ranked by the international ranking guide, The Legal 500, among the top Israeli law firms in the capital market and insolvency practice areas, with Adv. Israel Shimonov ranked as one of the foremost experts in capital markets.
Among other things, our firm has been described as “a real force in the capital markets space.“
We are very pleased and glad to announce that Adv. Benjamin Ben Zimra was promoted to be a Partner in our firm from January 1st 2019.
Adv. Benjamin Ben Zimra is an associate in our firm since 2014 and is specialized in foreign companies’ representation specially from the US and is a co-head of the US companies department in our firm alongside with Adv. Dudi Berland, Partner.
Our firm represented MRR Thirteen Limited, controlled by industrialist Anand Mahindra, New York real estate owner and developer Rotem Rosen and Jerry Rotonda in the acquisition of Hotel Indigo Lower East Side New York. The transaction was financed by means of USD 100 million in equity provided by the controlling shareholders, as well as USD 73 million in debt financing at the TASE in bonds backed by a primary lien on the hotel.
Our firm represented Yitzhak Tshuva’s real estate giants Elad Canada Realty Inc. in a NIS 204 million bond offering at the TASE.
Our firm represented the Saidoff group in one of the largest and most prominent transactions in recent years, involving the acquisition of control in real estate and infrastructure giant Shikun & Binui from the Arison group.
Adv. Amir Bar-Tov and Aina Wexler from our Firm represented the Seydoff Group, which is owned by American businessman Naty Saydoff, in a transaction to acquire a controlling interest (46.9%) in the real estate and infrastructures company “Shikun & Binui” from Arison Investments, owned by Shari Arison, for NIS 1.1 billion.
Our firm represented Israel Canada Ltd. with respect to a share offering to accredited investors, in an amount of approximately 100 million NIS.
Our firm represented Fattal Assets (Europe) Ltd. in a private placement of 35,195,000 debentures (Series C) ranked as “A1” by Midroog Ltd. And totaling 35.4 million NIS.
Our firm represented Advantech Technologies (I.T.) Ltd. in the updating of its financial plan, that included a financing transaction in the framework of which a loan was granted to the company by a private investor, part of which was convertible to share capital of the company, alongside the financing by a banking institution, totalling approximately 19 million NIS and used for the repayment of approximately 20 million NIS in off-bank financing.
Our firm represented Netz Group Ltd. in a private offering of 910,962 ordinary shares to a private investor.
Our firm represented Amos Luzon Development and Energy Group Ltd. in a private placement of 11, 724, 991 unregistered options (12/16 series) to the company’s CEO.
Shimonov & Co. represented Emilia Development (OFG) Ltd. (TASE: EMDV) and Mr. Oded Feller in a merger deal by way of share swap, in which the operations of O. Feller Holdings, a private company held by Feller, have been merged to Emilia Development. The merger deal also included a public offering and a tender offer in a total amount of over NIS 103 million. The merged company produces and imports raw materials and provides services in transportation and storage, water treatment consultation, laboratory services, supervision of food products, and treatment of industrial and medical waste.
Shimonov & Co. represented Carasso Motors Ltd. in a public and private shares offering of NIS 317 million in order to be entitled to be part of 125 Tel Aviv Index.
Shimonov & Co. represented ASRR Capital Ltd. in a private placement of locked shares for an intuitional investor of a total of NIS 2 Million.
We are honored to be, once again, ranked as a Tier 1 firm in the field of Capital Markets, by the prestigious, international guide of Legal 500.
“Boutique firm Shimonov & Co. – Law Firm excels at acting for US-based real estate companies issuing in Israel…
Founder Israel Shimonov and Dudi Berland are recommended.”
Furthermore, Adv. Israel Shimonov was stated, for the fourth year in a row, to be a leading individual in the Capital Markets landscape.
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Shimonov & Co. represented ASRR Capital Ltd. in a public bond offering in a total sum of NIS 108 million.
