Our firm, together with the US law firm Fenwick & West LLP, represented Facebook, Inc. (NASDAQ: FB) in the acquisition of Onavo Mobile, an Israeli mobile data-saving app. Financial terms of the transaction were not disclosed.
Meitar successfully defended the board of directors of Partner Communications Ltd. in opposing a motion to certify a derivative action seeking NIS 653 million in damages and alleging negligence in the approval of dividend distributions. The motion to certify was denied in its entirety.
Our firm represented a consortium of purchasers from China and Hong Kong in the pending acquisition of a controlling interest in Clal Insurance Enterprises Holdings Ltd., a public company traded in the TASE, which is the parent company of the largest insurance group in Israel, Clal Insurance Company Ltd. The value of the transaction (including put/call options) is approximately US $700 million.
Meitar represented Bitan Wines food chain in its acquisition of Zim Marketing Ltd., the owner of the “Half-Off” food chain, to become the third largest retail chain in Israel.
Meitar successfully defended ASML, a Netherlands company, in a NIS 20 million subrogation action brought by Migdal Insurance Company. The action was dismissed in light of a foreign jurisdiction provision in the agreement between ASML and the insured (Tower Semiconductor).
Meitar represented UBS, Barclays Capital and Citigroup as underwriters of the $1.5 billion global notes offering by the State of Israel.
Meitar represented Avaya, a business communications solutions provider, in its acquisition of Radvision, a Tel Aviv-based company developing HD and converged video conferencing solutions, for approximately $230 million in cash. The transaction is expected to be completed during the second quarter of 2012.
