Category: Deals

Though we – as humans, as lawyers, as a firm and as a country – are still reeling from the horrendous attack we faced on 7 October, the economy and Israel’s energy sector specifically, remain of paramount importance. We are therefore thrilled to congratulate our client, Phoenix Insurance Company, for their agreement to invest an amount of up to NIS 700 million into Meshek Energy. This strategic investment will provide Meshek Energy with the capital needed as part of its bid to acquire the major Eshkol power station from the Israel Electric Corporation at a value of at least NIS 9 billion, and is a significant milestone in the energy sector.

Phoenix Insurance was represented by partners, Amnon Epstein and Ron Abelski, with senior associate Itamar Lev Eldar, and interns Roni Ghouila and Ronnie Kohn.

For the full article in Hebrew, click 

Congratulations to our client, Mekorot, Israel’s largest water company, for publishing the first tender for the design, finance, build and operate of a 75MW solar plant, including storage, over the Israeli National Water Carrier. This tender is the first of its kind in the novice coverage of the National Water Carrier (in Stage 1 over 1300 dunams in the Netofa area of the canal). This is the second large scale solar tender that Mekorot has initiated being in the forefront of Israeli governmental companies helping to achieve the goal of boosting the proportion of power generated from renewable sources in Israel to 30% of total power production by 2030.
Amnon Epstein, Founding Partner and head of ERM’s Energy & Infrastructure, together with Associate Tal Ishay, led the team and were assisted by interns Maya Shoshani and Roei Dayan.

ERM Advised Bank Leumi on the financial close of the NIS 510 facility agreement with Menorah Synergy, a subsidiary of TeraLight and Senergy Renewable Energy financing a portfolio of photo-voltaic power plants on roofs and reservoirs totalling approximately 124 megawatts.

Thank you to our partners Amnon Epstein, Chen Weiss, associates Nir Shaked and Ori Nehmad  from our energy department.

To read the full article in Hebrew click here.

 

ERM Advised Jerusalem Homes Group Ltd. of the Complex 06 project in the Katamonim neighborhood in Jerusalem. The project includes 700 housing units, 3,800 square meters of commercial space, and 2.8 dunams of public space.

Partners Aharon Shimon, Yoav Zahavi and associates Or Tzur, Golan Laihtam and Shoval Yaacov, all from the Real Estate and Urban Renewal Department advised Jerusalem Homes Group Ltd.

For the Hebrew article click here.

We congratulate our client Prime Energy on the sale of 50% of its interest in the Tlamim project to Helios. The Tlamim project is a 14 megawatt (AC) land-based photovoltaic project, valued at approximately NIS 72.5 million.

The Epstein Rosenblum Maoz’s (ERM) team advising Prime Energy was led jointly by Amnon Epstein, founding partner and head of ERM’s Energy, Infrastructure, and Climate practice, and Chen Weiss, partner. Associate Tal Ishay also advised.

For the full article (in Hebrew) please click here

ERM Advised Paz Oil Company (TLV: PZOL), the largest Israeli fuels company, and Hagai Miller on reaching financial closing of its first renewable energy project.

Epstein Rosenblum Maoz’s (ERM) Energy Infrastructure and Climate practice group was proud to advise Paz once again following its acquisition of the 272MW PV project in Texas, US in 2021 together with Global Sun Israel.

The financial closing included non-recourse project finance from Nomura and Poalim, Tax Equity finance from a leading US investment bank and equity finance from Menora Mivtachim Group.

Partner Asaf Rimon led the ERM team, together with Amnon Epstein, Galit Heller Farkash, Tal Ishay and Lin Nanikashvili

For the full article in Hebrew click here.

The firm represented Ruby Capital in partnership with Meitav Dash Investment House and Ayalon Insurance Company in one of Israel’s largest ever non-bank real estate project financing transactions, with approximately NIS 1.2 billion of financing for the historic “Florentine Square” project in south Tel Aviv.

Ruby Capital and Meitav will provide the financing for the purchasing group and the necessary accompaniment and guarantees for the developer, and Ayalon will provide the Israeli Sales Law-required policies. The project will include some 200 housing units and approximately 7,000 square meters of commercial space, with construction costs estimated at approximately NIS 900 million. The project also includes the preservation of historic building “Central Beit Mashbir”, which was developed in 1935 and was previously used as the headquarters of the “Haganah” organization. The project is promoted by the Cityal Salma residential company, alongside a purchasing group of about 100 members.

Eran Mizrahi and Erez Gurion, partners in our Real estate and hotel department led the transection along with lawyers Itamar Lev, Nofar Driks and Raphael Sabag and intern Sharon Breier.

For the full article: click here

 

 

ERM advised The White City Group, in expanding into the hospitality sector in Italy, with a project to establish several luxurious hotels in the country, with an aggregate value of over NIS 1.7 billion. The hotels will be run by Isrotel Hotel Chain , Fattal Hotels, and other well-known international hotel management companies.

Gilad Maoz, head of ERM’s Real Estate & Urban Renewal practice, and Ron Abelski, partner in ERM’s Corporate & M&A practice, acted for The White City Group, together with associate Michal Gazit and intern Ori Nehmad.

For media coverage of the deal (Hebrew), please click here.

ERM advised Maritime Start Up Captain’s Eye, on its successful investment round, led by SixAI. Captain’s Eye goal is to set a new operational standard for the maritime industry for improving the safety culture and cost-effective management.

Asaf Rimon, partner in ERM’s Corporate & M&A practice, acted for Captain’s Eye, together with associates Errel Peli and Chen Ashkenazi, and the assistance of intern Yael Tsabari.

For media coverage of the deal, please click here.

ERM advised Kedma Capital Private Equity, one of Israel’s leading private equity firms, on its successful acquisition of 100% of Zeriha Group, which specializes in plastic injection.

Partners Nimrod Rosenblum, head of ERM’s Corporate & M&A practice, and Chen Weiss, led the ERM team. They were assisted by Corporate & M&A associate Chen Ashkenazi, Corporate & M&A trainee Noam Zimmerman, Employment and Benefits associate Chaim Schwartz, Real Estate Associate Na’ama Irony, and Antitrust partner Orit Dayagi-Epstein.

For media coverage of the deal (Hebrew), please click here.