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Insights & News / Corporate
July 16, 2020
COVID-19 Cross-Border Briefing: Updates
Our firm was chosen to provide the Israel section of a briefing on governmental measures taken during COVID-19 in key jurisdictions. The publication offers a general summary of the law and is aimed to assist businesses through these ever changing times.
July 12, 2020
Dividend Distribution During COVID-19
The recent dividend distribution by TASE-listed Fox-Wizel Ltd., after receiving emergency funding from the Israeli government, raised ethical questions and highlighted the difficult choices facing many companies. In an op-ed published by Globes in response to the backlash, Adv. Micky Barnea discussed a central challenge: balancing the difficulties and uncertainties of the COVID-19 pandemic with companies’ desire and responsibility to continue operating as commercial enterprises.
June 22, 2020
Barnea Represents Cyberx Shareholder in Microsoft Acquisition
We represented Inven Capital, a Czech-based VC fund and a shareholder in Cyberx Israel, an Israeli IoT ICS cybersecurity startup, in Cyberx's sale to Microsoft for USD 165 million. CyberX has gained tremendous customer growth, with a number of leading companies using its IoT security platform to protect their web facilities. Cyberx has raised about USD 48 million since its inception in 2013. This is Microsoft’s eighth acquisition in Israel in the last decade.
May 20, 2020
Doing Business in Israel – Practical Law
This year, we were once again responsible for preparing the QA guide on doing business in Israel for the Practical Law website. The guide provides an overview of recent key developments that have affected doing business in Israel, including the legal system, foreign investment, employment, tax, competition, privacy, and IP.
May 7, 2020
FIMI Acquires Control of Amiad Water Systems
FIMI Opportunity Funds, a private investment fund, recently acquired control of public company Amiad Water Systems Ltd. Adv. Micky Barnea represented Hachoshlim Fund Cooperative Agricultural Society Ltd., Amiad's largest shareholder, in the acquisition. As part of the deal, FIMI agreed to invest about USD 19 million in Amiad for a share allocation, thereby acquiring 5% more of the company's shares.
May 5, 2020
Barnea Represents Surf in Sale of Video Division to Lytx
Lytx Inc., a US-based fleet management software developer, has acquired the video division of Israeli company Surf Communications, which will serve as Lytx’s Israeli RD center. Founded in 1996, Surf develops multimedia digital signal processing technologies for telecommunications infrastructure. Adv. Micky Barnea and Adv. Ariella Dreyfuss represented Surf in the transaction, valued at USD 20-30 million.
May 3, 2020
Capital Markets in the Age of Coronavirus
MA expert Adv. Micky Barnea was interviewed by Globes for an in-depth analysis of major deal cancellations amid financial uncertainty. The article explores how large corporations have the financial flexibility that smaller businesses and self-employed professionals can only dream of. According to Micky, “Starting in February, we noticed that time had become elastic. Typically, parties seek to maintain a steady pace, accelerating once they have shaken hands on a deal. Now, fewer people are rushing to complete transactions. They are taking time to see what happens next in the market.”
April 22, 2020
Pi-Cardia Ltd. Raises USD 27 Million in Financing Round Led by Sofinnova Partners
Pi-Cardia, an Israel-based global leader in developing non-implant catheter-based solutions to treat heart valve calcification, has raised USD 27 million in funding. The round was led by our client, European life sciences venture capital firm Sofinnova Partners, with participation from Pi-Cardia’s chairman, Prof. Jacques Séguin, and existing investors. Adv. Micky Barnea and Adv. Ariella Dreyfuss represented Sofinnova Partners in the transaction.
March 31, 2020
Hosting Online Seminar for Israel Hedge Funds Association Members
Together with Lior Segev, the co-founder and CEO of Liquant Asset Management, we hosted an online seminar for members of the Israel Hedge Funds Association on business continuity planning during the coronavirus.
March 19, 2020
Coronavirus: Is a Huge Wave of Debt Arrangement on the Way?
Adv. Micky Barnea was interviewed by Globes on the coronavirus’ effect on both the corporate and government bond markets.
March 10, 2020
Li Wenliang Was Not a Snitch – Adv. Michael Barnea
Li Wenliang was one of the first doctors to warn about the coronavirus outbreak and paid a personal price for speaking out. In Hebrew, people like Li are often described as “information leakers” at best and “snitches” at worst. The distinction frequently depends on perspective: one person’s whistleblower is another person’s snitch. In an article published by TheMarker, Adv. Micky Barnea explores how the language used to describe whistleblowing shapes attitudes toward it. He argues that organizations should use language that recognizes the value of speaking up and encourage employees to report concerns through internal channels.
March 3, 2020
Representing MAT Investment Holdings in Merger between Two Manufacturers of Control Valves from Kibbutz Industry
Our firm represented the Spanish multinational industrial group MAT Investment Holdings in the merger of its Israeli subsidiary Dorot Management Control Valves from Kibbutz Dorot with A.R.I. Flow Control Accessories, a company owned indirectly by Kibbutz Kfar Haruv.
February 10, 2020
Event Invite: New International Standards for Internal Alert Mechanisms
Join us for a seminar on the new international standards for internal alert mechanisms. The EU whistleblower protection directive that came into force in December 2019 and trends in the US signal a new duty—the obligation to formulate an in-house mechanism that allows employees to report improper or unethical conduct. To date, such mechanisms have largely been the responsibility of large companies subject to heavy regulation, but this reality is about to change. To what extent is your organization ready for such a mechanism? Are there any accepted standards for such mechanisms?
February 3, 2020
Event Invite: Whistleblower Protection: Israel, Europe, and the US
The entry into force of the EU Whistleblower Protection Directive in December 2019 and recent US legislative trends require local companies operating in the international arena to begin preparing accordingly. During the seminar, we will discuss the need to protect whistleblowers, existing regulation, and what the next steps should be.
December 12, 2019
Barnea Represents Sartorius in Acquisition of Majority Stake in Biological Industries.
Our firm represented Sartorius, a leading multinational corporation in the life science, research and development, and biopharmaceutical industry, in a transaction to acquire a majority stake in the Israeli cell culture developer Biological Industries. Sartorius acquired the majority of Biological Industries shares by way of secondary purchase of shares from the Development Company of Kibbutz Beit Haemek and private equity fund Fortissimo Capital, in consideration for USD 50 million. In addition, as part of the transaction, Sartorius and the Development Company of Kibbutz Beit Haemek signed an option to purchase/sell additional holdings in the future.
November 19, 2019
Event: The Future of Money Transfers
Our firm hosted ACC Israel members for a seminar on money transfers. We provided an overview of current regulations and guidelines governing money transfers in Israel and around the world. A panel discussion explored the challenges and opportunities facing businesses and practical ways to address issues that may arise when transferring funds. The panel featured Adv. Anat Even-Chen, our regulatory expert; Doron Cohen, CEO of Covercy; Idit Froim, General Counsel of Colu; Yitz Raab, Managing Partner of Tzur Management; Rami Sasson, Chief Compliance Officer of Discount Bank; and Ronen Siman-Tov, CTO of IBM Blockchain World Wire.
November 6, 2019
Barnea Represents Azrieli Group in Sale of Supergas Holdings
Our firm represented Azrieli Group in the sale of its holdings in Supergas to Elco Group for ILS 820 million. Azrieli was represented by Adv. Micky Barnea, Adv. Ilan Blumenfeld, Adv. Sagi Gross, and Adv. Daniel Kleinman.
October 30, 2019
Adv. Micky Barnea Interview with Legal Business Magazine
Adv. Micky Barnea was interviewed by the British magazine Legal Business about whether the political situation in Israel has affected its economy. Micky noted that investments, from both overseas companies into Israel and in the local market, remain extremely strong, and expressed future confidence in the Israeli economy.
September 25, 2019
Hosting the Israel Hedge Funds Association for a Negotiation Workshop
Our firm hosted the Israel Hedge Funds Association today for a negotiation workshop. The workshop was held in collaboration with Moti Crystal, a crisis management expert. As part of the workshop, we presented common mistakes and the techniques for overcoming them in MA transactions and disputes.
September 19, 2019
Hosting a Delegation of Senior Executives from Daiwa House Group
Our firm hosted today a delegation of senior executives from the Fortune 500 Japanese construction company Daiwa House Group. The executives visited Israel to promote business relationships with Israeli companies.