DLA Piper has expanded the number of Israel-related transactions it has been involved with thus far in 2015, approaching an aggregate value of US$3 billion in 20 significant foreign transactions on behalf of Israeli institutional investors and companies, foreign investors and acquirers.
Consisting of over 100 lawyers throughout DLA Piper’s offices in the United States, Latin America, Europe, Asia, and Australia, the firm’s global Israel practice is dedicated to providing a wide range of innovative legal services to Israeli companies, investors and entrepreneurs in support of their global activities, as well as to companies throughout the world seeking opportunities in Israel.
DLA Piper is well on pace to surpass its total of Israel-related transactions achieved in 2014, when the firm advised on 27 significant foreign transactions, with an aggregate value of more than US$2.5 billion.
The momentum in the first half of 2015 demonstrates the firm's strong real estate, M&A, private equity and venture capital capabilities throughout the world, coupled with its presence and engagement in the Israeli market. The deal highlights included:
- Seven M&A transactions spanning the US, UK, China and Israel that collectively exceed US$1.5 billion, including Comverse’s acquisition of Acision; Amdoc’s acquisition of Comverse’s business support systems (BSS) unit; Nova Measuring’s acquisition of ReVera Incorporated; Japan's Kurita Water Industries’ acquisition of ICL’s APW; and China’s Fosun International’s acquisition of Israel’s Phoenix Holdings Ltd. This amount is already significantly higher than last year, where the total M&A deal value was approximately US$750 million.
- Several real estate acquisitions in London on behalf of Teddy Sagi’s Market Tech Holdings that collectively exceed US$119 million, including Camden Wharf and the Interchange Building, Utopia Village, and Hawley Crescent. The firm also worked on two nonpublic deals on behalf of Israeli investors in both New York and Washington, DC exceeding $900 million.
- Three nonpublic sale transactions with a cumulative market value of US$177.25 million.
- Three fund investments for Israeli institutions were completed for a total of approximately US$255 million.
The increase in Israeli-US transaction volume follows DLA Piper's strategic decision to develop a global Israel practice more than six years ago, led by partner Jeremy Lustman, who is based in Tel Aviv, and Paul Jayson, who is based in London. The practice represents more than 150 clients covering virtually all sectors in the Israeli economy across more than 40 different jurisdictions outside of Israel and has guided more than 150 multinational clients in their local activities in Israel, in coordination with local counsel.