Taxation of Transfer of Israeli Real Estate to a Trust

Dear Clients, Friends and Colleagues, We are writing to update you on two recent significant developments regarding the taxation of Trusts that hold Israeli real estate. These developments may significantly affect many trust structures that own Israeli real estate directly or indirectly, and therefore necessitate a careful review of these structures. A. In a Nutshell […]

California Legislature Passed the Age-Appropriate Design Code Act

The California legislature has recently passed unanimously by both the State Senate and Assembly the California Age-Appropriate Design Code (Assembly Bill 2273, “the Bill“). Once entered into force, the law will impose new requirements on businesses that provide online services, products or features, that are “likely to be accessed by children”, as further detailed below. […]

California Advances New Regulatory Framework for Crypto

Last week, the California State Assembly and the state Senate have passed a new bill regulating digital financial assets and related business activities (“Digital Financial Assets Law“). The bill sets new mandatory licensing as well as additional regulatory requirements for a wide range of entities operating in the crypto and other digital assets domain and […]

First Significant Enforcement Measure under CCPA Concludes with $1.2M Fine

Comprehensive privacy legislation is expanding across US states and the updated privacy law in California (the California Privacy Rights Act (“CPRA“)) is entering into force in January 2023. Meanwhile, the California’s Attorney General has announced the first enforcement settlement under the current California Consumer Privacy Act (the “CCPA“). This enforcement measure was taken after a […]

Israeli Exit Tax – from Enforcement Difficulties to Extensive Obligations on Taxpayers

Herzog’s Chairman Meir Linzen together with Partner Guy Katz and Associate Sophie Matatyaho, shared their overviews of the Israeli exit tax in the recent “Chambers Global Practice Guide”. “Under the Israeli Income Tax Ordinance (the “Ordinance”), when an Israeli tax resident (including a company and, in certain cases, a trust) ceases to be an Israeli […]

We represented Golf&Co in its take privet of Adika Style

A big congratulations goes out to our clients Golf & Co Group Ltd. (TASE: GOLF) and Adika Style Ltd. (TASE: ADIKA) on the signing of a definitive merger agreement pursuant to which Golf will acquire all of the share capital of Adika through a reverse triangular merger. The transaction is expected to close in the […]

Reality Fund acquired two office buildings in Herzliya worth an aggregate of NIS 200 million

Congratulations to our client, Reality Investment Funds, on its acquisition of two office buildings in Herzliya, worth an aggregate of NIS 200 million! Our skilled real estate team had the privilege of representing Reality Investment Funds on this large-scale and complex transaction which also included financing, and was dealt under a tight schedule. The transaction […]

Herzog represented Leumi Bank in a NIS 2.75 billion equity offering

We are very proud to represent Leumi Bank, Israel’s largest bank, in a NIS 2.75 billion equity offering. The global coordinators of the offering were Citibank, and Barclays and Jefferies acted as global co-bookrunners. Leumi Partners and Leader acted in Israel as placing agents and underwriters, respectively. Congrats to Bank Leumi on this strategic offering, […]

Leonardo DRS, Inc. signed an agreement to acquire RADA Electronic Industries

Congratulations to our client, defense technology provider Leonardo DRS, Inc., a subsidiary of the Italian defense conglomerate Leonardo, on signing an agreement to acquire RADA Electronic Industries, a leading Israeli provider of small-form tactical radars. Upon closing, RADA’s shareholders will receive 19.5% of the share capital of the combined company, giving it an implied value […]

Sovryn is selling tokens in the Sovryn network in exchange for $5 million in funds from VC firm General Catalyst and additional investors

Our fintech & crypto team assisted its client, Sovryn – a decentralized finance (DeFi) trading platform – in the latest investment in its network and its protocol development. Sovryn is governed by an online user community in the model of decentralized autonomous organization (DAOs) – a growing practice in the Blockchain and Web3 ecosystems. Assisted […]

GoParrot, Inc. was acquired by Block, Inc. (formerly Square, Inc.)

Congratulations to our client, GoParrot, Inc., a premium AI-based digital ordering and marketing platform for restaurants, that was acquired by Block, Inc. (formerly Square, Inc.), a public company listed on NYSE. This complex merger transaction was led by our partner Yuval Zilber together with our associates Dor Marinovsky and Reggev Mechalovich, and our intern, Gil […]

Augury acquired Israel-based Seebo

Joining Forces to Boost Production Health. Congratulations to our long-standing client Augury, a world leader in the machine health category, on its acquisition of Israel-based Seebo (Now part of Augury), a leader in AI-based process intelligence. The combination of Augury’s AI solutions, which improve health and reliability of machines for manufacturing and industry, with Seebo’s […]

proteanTecs has raised another $45 million

Our long time client, proteanTecs, a global leader in deep data analytics for electronics monitoring, has raised another $45 million. The investment brings the total funding to nearly $200 million. Our partner Yuval Meidar and associate Rei Even-Chen represented proteanTecs. To read more >> click here

The transaction was led by Herzog, GE Healthcare will invest in Pulsenmore up to USD 50 million

Congratulations to our client GE Healthcare for its engagement with Pulsenmore, an Israeli public company. GE Healthcare is the USD 17.7 billion healthcare business of GE, and is a leading global medical technology, pharmaceutical diagnostics and digital solutions innovator. Pulsenmore is engaged in the development, manufacturing and sale of portable ultrasound devices for home use. […]

Honored to have represented our friends and clients at Cyber Armor Ltd.

Honored to have represented our friends and clients at Cyber Armor Ltd. ARMO, in its $30 million Series A financing round led by Tiger Global and Hyperwise Ventures, bringing it one step closer to making Kubescape the first Kubernetes open-source end-to-end security platform. Our partner, Alon Lederman worked with associates Avital Zahari and Chen Gilboa, […]

Our client 888holdings has completed a deal to launch the 888 brand in Africa

Our client, 888holdings, has completed a deal to launch the 888 brand in Africa. The newly formed 888AFRICA is a joint venture, which will license and launch 888’s online betting and gaming brands across selected regulated African online betting and gaming markets. Our partner, Itai Sarfaty led our multi-disciplinary team to complete this deal – […]

We represented the Phoenix Insurance Company in its investment in BST Group

We represented the Phoenix Insurance Company in its investment in BST Group, which specializes in the development and execution of large and complex real estate projects in Israel. The Phoenix now owns 20% of BST Group following its investment of approximately ILS 200 million. Our partner, Limor Hodir, led the work on this deal with […]

Altshuler Shaham has completed a reverse triangular merger and an IPO

Our client, Altshuler Shaham has recently completed a reverse triangular merger and an IPO, under which Altshuler Shaham Finance’s shares were listed on the Tel Aviv Stock Exchange, while Altshuler Shaham Provident Funds and Pension’s shares were delisted from the Tel-Aviv Stock Exchange. As a result of the Merger and IPO, Altshuler Shaham Provident Funds […]

Nayax acquired On Track Innovations

Nayax, a global commerce and payments platform, has agreed to acquire On Track Innovations. Nayax is a publicly traded company on the Tel Aviv Stock Exchange, and On Track Innovations reports with the SEC. Ron Ben-Menachem, Nir Dash, Dr. Ehab Farah and Nesimyan Adawi represented Nayax in this transaction.

Herzog represented Plus500™ in entering the Japanese market

Plus500™ is entering the Japanese market through the acquisition of EZ Invest Securities Co. Plus500 operates proprietary technology-based trading platforms, and the purchase of EZ Invest, which is authorized and regulated by the Financial Services Agency of Japan, will open a significant retail trading market to Plus500, enhancing its strategic position. Nir Dash, Michal Herzfeld […]

We represented Cannibble on its listing on the Canadian Securities Exchange (CSE).

Welcome to Canada! Congratulations to our client Cannibble Foodtech on its listing on the Canadian Securities Exchange (CSE). Cannibble is an Israeli Food-tech company that develops and manufactures food mix products enhanced with hemp, CBD, and THC. Our partner Aviram Hazak and associate David Azimov represented Cannibble on this listing.

Our representation of Y.S. Ashkenazi Agencies Ltd. in its sale to Brenntag

We recently represented Y.S. Ashkenazi Agencies Ltd., one of Israel’s largest specialty chemical distributors, in its sale to Brenntag, a publicly-traded global market leader in chemicals and ingredients distribution. This acquisition represents Brenntag’s entry into the Israeli market. Our partner Erez Abu, and associate Ofri Mor represented the client in this deal.