WeWork has changed its operating model in Israel to a franchise. Herzog represented WeWork in the transaction to transfer all of its assets and operations in Israel (including 14 locations) to AMPA group, which will operate those assets under a license, in consideration for royalty payments.

This was a complicated deal that required participation of multiple departments within the firm, including Corporate (Ron Ben-Menachem, Mohammad Mawasi, and Shira Knebel), Employment (Liat Shaked-Katz and Keren Assaf), Tax (Yuval Navot, Dr. Ehab Farah, and Tali Azriel), and Competition Law (Iris Achmon).

The transaction is subject to closing conditions, including the approval of the Israeli Competition Authority.

For the article in TheMarker >> click here