From the news

Recent transaction and litigation


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November / 2009

Representation of F.T.T. Investments B.V., in the sale of Elettra to France Telecom

F.T.T. Investments of the Fishman Group held a 30% interest in Elettra (a provider of a range of marine activities, including survey, installation and maintenance of submarine systems) with the remaining interests being held by Telecom Italia. In September 2010, Elettra was sold for Euro 62 million.

November / 2009

Representation of Red Bend Software in its acquisition of VirtualLogix

Meitar represented Red Bend, an Israeli venture-backed private company, in its acquisition of VirtualLogix Inc., a Delaware corporation, in consideration for newly issued Red Bend shares.

November / 2009

Representation of NICE Systems in its acquisition of e-Glue for $29 million

Meitar represented NICE Systems, in its acquisition of e-Glue Software Technologies, Inc. for approximately $29 million. NICE is an Israeli company whose shares are listed for trading on the NASDAQ and the Tel Aviv Stock Exchange, and a leading global provider of internet-based solutions that enable enterprises and security organizations to extract insight from interactions, transactions and surveillance.

November / 2009

International Three Crown Petroleum

Meitar represented International Three Crown Petroleum and Israel Petroleum Company, private oil and gas exploration and exploitation companies, before the Supreme Court and the newly-established Economic Division of the Tel-Aviv District Court (in its first decision ever). Both courts accepted Meitar’s arguments and rejected the motion of Bontan Corporation (OTC: BNTNF) for a temporary injection aimed to prevent a transaction with an Israeli public shell company.

November / 2009

Representation of TEOCO in its acquisition of TTI Team Telecommunication for $58 million

TEOCO, a Delaware private company that provides software solutions to telecom operators acquired TTI, an Israeli public company traded on NASDAQ, through a reverse triangular merger effected under Israeli law.

November / 2009

Representation of Amdocs in its acquisition of French company Streamezzo SA for $41 million

Meitar represented Amdocs in its acquisition of French based company Streamezzo SA for $41 million. The transaction was accomplished by way of a purchase of shares from Streamezzo’s shareholders and applying a forced-sale mechanism (bring along).

November / 2009

Meitar attorneys block a hostile attempt to take over Sella Capital

Meitar’s litigation group obtained a seminal decision from the Tel-Aviv District Court on behalf of Sella Capital (TASE: SLARL), an Israeli real estate investment trust (REIT), blocking a hostile takeover attempt commenced in the form of a scheme of arrangement. The District Court ruled in favor of Sella, holding that a scheme of arrangement requires the consent of the company board of directors, and therefore can not be used for hostile takeovers.