Practice area

IFLR1000 Reviews


Solicitors governing body: Israel Bar Association

Competition authority: Israel Antitrust Authority

Financial regulator: Israel Securities Authority

IFLR1000 ranking categories:

Financial and corporate (published October): Banking; Capital markets; M&A; Project finance

Jurisdiction overview

Israel’s legal system is predominantly based on common law although it incorporates elements of civil law too. When the State of Israel was declared independent an exact date was set to enact a constitution but a codified document has never been produced. Instead, the foundations of the country’s legal system are its Basic Laws, which govern state bodies, the parliament (The Knesset) and some civil rights.

Although geographically part of the Middle East, Israel is isolated from its compatriots in the region due to a longstanding conflict with Palestine, which is supported by other Arab nations, over who rightfully has claim to the land recognised internationally as Israel. 

Israel’s conflict with Palestine has seen Israel excluded from cross-border trade within in the region but further afield it does not have the same problem. Israel has bilateral trade agreements with Canada, the EU, EFTA, Mexico, Turkey and the US. The US, consumes around a quarter of all its annual exports, mainly in the form of pharmaceuticals, a variety of high-technology and cut diamonds. The UK and China are the two other most significant importers of Israeli produce.  

Israel’s dense legal market is diverse in terms of the size of firms but the best known and most active are typically the largest. Herzog Fox & Neeman, Gornitzky & Co, Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co, and Meitar Liquornik Geva Leshem Tal are among those with consistent strength across a range of financial and corporate practices. Other firms are more specialised. S Horowitz & Co is renowned for banking work, Tadmor & Co Yuval Levy & Co has two of the country’s strongest project finance and competition practices, for example.  

A fairly recent amendment to Israeli law saw the country’s legal market liberalised to permit foreign law firms to establish branches in Israel for the first time. 

Opening the local office of an international firm in Israel is a relatively straightforward process. The Bar Association must be notified within 30 days of its launch, the branch must employ a lawyer - foreign or domestic - already registered with the Bar and it must have complied with the standard employment, registration and tax requirements for opening any business in Israel.    

Foreign lawyers registered with Israeli Bar, and with its approval, can practice the law of their jurisdiction. Only foreigners with Israeli citizenship or resident status are entitled to requalify to practice domestic law. 

Since regulations on foreign firms in Israel were relaxed, only a few have entered the market. Among the notable arrivals from overseas was Yingke, one the biggest firms in China. It established a soft merger without financial integration with Israeli boutique firm Eyal Khayat Zolty Neiger & Co, which was rebranded Yingke Israel in 2013. US outfit Greenberg Traurig was an earlier entrant, making its move in 2011.

When assessing why foreign firms have not launched branches in Tel Aviv, Israeli lawyers generally concur. Principally, they could not charge the fees they do from abroad in such a competitive market which has no shortage of US or UK qualified lawyers. There are also those who feel international firms are concerned that entering the Israeli market directly could damage important client relationships in the wider the Middle East. 

Consolidation in the domestic legal market has been a trend in the last four years. Goldfarb Levy Eran Meiri Tzafrir & Co and M Seligman & Co was the first major deal. The two firms created Goldfarb Seligman & Co – still Israel’s largest firm by headcount. In 2014 Shibolet & Co merged with high-tech boutique Ben-Zvi. In 2013 Meitar Liquornik Geva & Leshem Brandwin and Kantor Elhanani Tal & Co joined forces to become the Israel’s third largest firm. More recently Tadmor & Co and Yuval Levy & Co merged.

Generally speaking, there is a range of commercial legal work on offer for law firms in Israel. There is a significant amount of cross-border corporate transactional work originating from the US. Mainly inbound M&A but also local company IPOs on Nasdaq, and, more recently, outbound acquisitions by domestic groups. Asian inbound investors represent another active client base.  

Recently, domestic capital markets work has been somewhat limited. Infrastructure project related advice is however a good fee generator, especially in the energy sector. Five years ago there was an abundance of solar developments, and now there have been huge gas discoveries offshore in Israel. 

For smaller firms the most reliable stream of commercial work is M&A and venture capital related advice. Outside the US, Tel Aviv is one of the world’s leading cities for high-tech start-ups thanks to the significant investment by the state in research and development, the proliferation of funding through venture lending and the country’s strong focus on education. A number of firms have built reputations for helping start-ups optimise their businesses and either eventually merging, selling or going public.    

Ben Naylor - EMEA Editor

Financial and corporate
Agmon & Co – Rosenberg Hacohen & Co

Agmon & Co - Rosenberg Hacohen & Co is one of Israel’s leading oil and gas law experts. The firm advises the biggest private companies in the sector on all types of financing, and is generally mandated on the Israel’s largest conventional energy projects. In addition to being experienced in project finance, the firm is notable for its expertise in reserve-based lending. 

More broadly, the firm has a strong capital markets practice with experience and in debt and equity work, a strong regulatory background, and expertise in derivatives and structured finance products.

In the banking and lending space the firm’s recent deals have been a mix of syndicated loans, acquisition finance, and loan portfolio sales. The highlights included advising Harel on a syndicated loan, and acting for Midgal in the purchase of two large loan portfolios from Bank Mizrahi-Tefahot.

Among the firm’s recent project finance deals was a substantial facility for an energy project where it represented the project company/borrower.    

The firm’s capital market’s practice has had a strong 2016/17, with roles on several significant and novel transactions. The deals included acting for Delek Drilling on a large bond issue (the first Israeli public debt issue by a limited partnership) and IPO in a transaction that enabled Delek to spin-off some its stake in the Tamar gas field; representing Bank Leumi on issuing Israel’s first CoCo bond; and advising Navitas on its US IPO. 

Notable M&A deals for the firm were predominantly public. A headline matter was the merger of Avner Oil Exploration and Delek Drilling, which was the first merger of two publicly traded limited partnerships in Israel. The firm was also involved in the second transaction of this type.

In the projects space, the firm has lead roles on Israel’s biggest conventional energy developments, acting for the consortiums which hold the rights to the Tamar and Leviathan gas fields. Recent work on both fields has been focussed on negotiating more than $100 billion (combined) in gas sale agreements to countries in the Middle East and the domestic market, having advised on the projects since its inception. 

Construction, financial services, oil and gas, and transport are among the sectors in which the firm specialises.  

Avner Oil and Gas, Bank Leumi, Nobel and Delek are among the firm’s key clients.

Client feedback

"Excellent negotiation skills and ability to close deals.” – Banking and finance

“The best in Israel.” – Capital markets: Debt

Yona Goshen-Gottstein

"Highly accessible, excellent negotiations skills, broad knowledge of market practises and regulation."


Erdinast Ben Nathan Toledano & Co

Erdinast Ben Nathan Toledano & Co’s (EBN) strongest practices are M&A and transactional private equity and projects, where it’s commended for energy project development and regulatory advice.  

The firm’s recent banking work has mainly been for private equity clients, either refinancing companies in the funds’ portfolios or financing acquisitions. The highlights included acting for XIO Group on financing of the acquisition of Meitav Dash and representing Netafim and its financial sponsor Permira Advisors on refinancing the company. 

In the capital markets area, the firm has advised a number of companies on bond issues. 

In M&A the firm worked on a number of the market’s more complicated deals. These included acting for Noy Fund when it bought a stake in the Ashalim power plant plot A from Abengoa, advising XIO on its acquisition of Meitav Dash - which was still subject to approval at the time of publishing - and acting for Extra Holdings in its purchase of a controlling stake in Blue Square. 

The firm saw a number of changes to its partnership recently. It added two insolvency partners - Alon Binyamini and Hagar Guri Greenboim - when their firm Kalir Binyamini merged with EBN. The head of the firm’s project finance practice, Jonathan Finklestone, moved to Meitar with his team. 

Recent project work for the firm included advising bidders for a BOT contract to develop a waste treatment facility.

Energy, high-tech, infrastructure, and private equity are sectors in which the firm specialises.  

Bank Hapoalim, Permira, Supergas and XIO Group are some of the firm’s significant clients. 

Client feedback

"By far the best energy related law firm in Israel - superb knowledge. Great negotiation skills on the investment deals we had over the past two years. Highly motivated and superb support during the process.” – Banking and finance, M&A, private equity

“EBN offer pleasing and responsive service, with leading experts in all elements providing results oriented, determined and consistently excellent service. The firm has extensive knowledge and experience with regard to capital markets practice in particular. EBN has repeatedly proven to us that it is capable of handling complex, challenging issues. The level of service and expertise provided are superior to other big firms. EBN closely coordinate with the client and provide a sophisticated and customer-focussed advice. The capital markets team is very responsive and hard working. Definitely very good value for money.” – Capital markets

“Excellent across the board. Doni Toledano, Lior Oren and their team provide superb service. Innovative, commercially savvy, with a personal touch.” – M&A, private equity

“EBN has extensive knowledge and experience in the energy market in general, and natural gas in particular. EBN’s depth enables it to always be available, and it has repeatedly proven to us that it is capable of handling complex regulatory and commercial issues. The level of service and expertise provided by EBN are superior to the level of service by other big firms. We have been working with EBN on a continuous basis for many years; during this time we have worked with a few of their competitors, and my conclusion is EBN is the best firm in this field.” – Project development, project finance

“We initially addressed EBN in an SOS situation in which our BOT project was at actual and imminent risk, and after several top tier law firms were unable to provide us with the needed services. The project had to re-enter a financial closing with new partners as soon as possible. EBN's energy and infrastructure department immediately understood the complexity of the situation and the type of transactions that were required in order to restructure. The department, led by Uri Noy, worked 24/7 and across continents for almost a year on this extremely complex and one-of-a-kind process, which involved lengthy and complicated negotiations with potential partners, lenders and governmental authorities, and they were a key factor in the successful result.” – Project development, project finance

Nir Amodai 

“Very high professional skills.” 

Alon Binyamini

"Alon Binyamini, a partner in the securities team, is an excellent, professional and innovative lawyer with thorough knowledge of the capital markets, who provides efficient and tailor-made services.”

Hagar Guri

“Hagar Guri, a partner in the securities team, is a highly experienced, very proactive and innovative lawyer, while being measured in her approach.” 

Uri Noy

“Uri is a brilliant and an outstanding lawyer, and he is well respected by the key players in the energy market due to his vast professional knowledge, experience and strategic understanding of the market. If you have a complex energy transaction – he should be your guy, since you will not be able to find a better combination of a lawyer and a businessman.” 

“Uri is a truly brilliant and one-of-a-kind lawyer. Uri has the unique ability to breakdown a very complex situation and provide a comprehensive road map for solving that situation. In addition, Uri's legal and commercial advice were extremely helpful, and proved he has vast experience with respect to the energy market and cross-border transactions.” 

“Superb person. The best energy lawyer in Israel.  Superb negotiation skills with great industry related experience. Would recommend his legal advice as well as commercial matters.”

Yaron Cohen 

“Yaron is an extremely professional lawyer with a unique understanding of project development and construction, thus he was our go-to guy with regard to the challenges that the EPC encountered during the transaction. In addition, Yaron's experience and connections with the Electricity Authority were essential in receiving the Minister and the Electricity Authority's approvals for the transaction.“ 

 Nadav Olgan

“The firm’s go-to man with respect to regulatory issues. He has vast knowledge and deep understanding of all aspects of the energy regulation, and very good relationship with the different regulators."

“Nadav is an excellent lawyer with thorough knowledge of the energy market's regulation, and he is resourceful in finding effective solutions to both commercial and regulatory issues. His excellent professional connections with the different regulators in the market, and the deep appreciations he receives from them, make him probably the number one lawyer in Israel with respect to energy regulatory issues.” 

Doni Toledano 

“A fantastic private equity lawyer. He really knows his stuff, is very responsive and very commercial.”


Fischer Behar Chen Well Orion & Co

Fischer Behar Chen Well Orion & Co (FBC) is generally strong in transactional work. The firm’s leading practices are capital markets and M&A, and its experienced in debt restructuring. The firm has long-term relationships with a number of Israel’s biggest institutional investors, and often advises these clients on lending. The firm is active in the project area too, and recognised for energy work.  

Recent banking and finance highlights work for the firm has been a mix of new money and refinancing transactions, with examples of acquisition and project finance and syndicated loans. One headline deal saw the firm representing institutional investors participating in the syndicated financing for the first stage of development of the Leviathan gas field. 

In the capitals markets space the firm has mostly been active advising issuers selling bonds, both public and private and some hybrids. The highlights included representing Rafael Advanced Defense Systems on the largest ever Israeli private placement bond issue., 

The firm’s recent M&A deals have been across various sectors – engineering, manufacturing, technology – and on both public and private deals. A highlight was acting for Fujian Yango Group on the acquisition of controlling stake in Phoenix Holding. 

Banking, energy, financial services, insurance, and real estate are some of the sectors in which the firm has expertise. 

Bank Hapoalim, Clal, Harel, and Migdal are among the firm’s key clients. 

Client feedback 

“FBC's work in this field is extraordinary. Very professional partners lead this section at the firm – they’re very smart, deal-makers.” – Banking and finance, restructuring

Avraham Well 

“Knowledgeable, smart, understands the business, and a great personality.”


Goldfarb Seligman & Co

Goldfarb Seligman & Co has a strong corporate practice, recognised for its involvement in large M&A, particularly public deals, and domestic and US capital markets equity transactions. The firm has relationships with some of Israel’s largest conglomerates, and is known for its expertise in the high-tech sector.

In the banking and finance area the firm represented borrowers on several large transactions. The highlights included representing the lenders which refinanced Altice over three deals in 2016 and early 2017. 

The firm’s capital markets work included Israeli IPOs, and IPOs of Israeli tech start-ups in Australia, and a number of bond issues, with work for both arrangers and issuers.  

In M&A, the firm advised on some of biggest public M&A deals with an Israeli party recently. The highlights included acting for Mobileye when it was bought by Intel, the largest in-bound Israeli high-tech acquisition ever; representing Valtech Cardio when it was bought by Edwards Lifesciences; and acting for the parent company of large shareholder in Adama when it was bought out ChemChina.

In the projects space, the firm is involved in several large transport infrastructure projects, representing the developers, including assisting Netivei Ayalon on a number of road projects. 

Industrials and manufacturing, high-tech, real estate, and telecommunications are sectors where the firm has expertise. 

Cellcom, Discount Investment, IDB Group, and Israel’s Public Utility Authority are among the firm’s key clients. 

Client feedback 

“Very good, thoughtful lawyers. Provide objective advice and are very responsive.” – Banking and finance, M&A

“Very professional, communicative lawyers with high integrity, who care.” – Banking and finance, M&A

Rami Sofer

“A great team player, knows how to marshal resources, really cares, and is extremely accessible. Ultimate professional.” 


Gornitzky & Co

Gornitzky & Co is broadly strong, with good lending and finance, capital markets, M&A, and projects specialists.

In the banking and finance area the firm’s recent deals were a mix of lending work, including several large acquisition financings and corporate loans. One of the larger deals was advising the lenders on the refinancing of Bright Food’s acquisition of Tnuva. 

Recent capital markets highlights for the firm were predominantly in the debt markets. The notable deals included advising Melisron on a bond exchange offer and acting for Israel Corporation on several bond issues.

The firm’s most notable M&A deals were public transactions, including Nestle’s takeover of Osem, and Delek Group’s sale of its controlling stake in Phoenix. In both cases the firm acted for the sellers. 

In the projects space, the firm is involved in several large energy developments, advising on both financing and other construction related issues. The highlights include acting for sponsors of the Ze'elim 120MW photovoltaic power plant and representing the project company on all aspects of the development of the Beer Tuvia IPP. 

Construction, energy, high-tech, infrastructure, transport are sectors where the firm has expertise.

Key clients include Apax Partners, Bank Hapoailm, Shikun & Binui, and Sodastream.  

Client feedback 

“Gornitzky & Co have proved themselves to be a strong relationship firm. We have found the team there to be very proactive and responsive at all times.” – Banking, project finance

“Highly experienced team with senior members personally involved and available in day-to-day activities.” – Banking, project development, project finance 

Dubi Gross 

“Dubi, a problem solver who is a pleasure to work with, and the firm impressed us with their strong network of relationships in the Israeli business world. Dubi is friendly, approachable, reliable and proactive in all aspects of our interactions.”  

“In-depth understanding of the industry, thinks outside-the-box, and provides added value.”  


Gross Kleinhendler Hodak Halevy Greenberg & Co

Gross Kleinhendler Hodak Halevy Greenberg & Co has one of Israel’s leading M&A practices, and a strong securities offering, which includes some of Israel’s leading regulatory experts in the area. 

Recent banking and finance work for the firm included advising a lender on merging two subsidiaries and several debt restructurings.

In the capital markets area, the firm’s recent work highlights included domestic equity deals and bond issues. An equity highlight was representing Novolog on its Tel Aviv IPO. It represented Clal, IDB, and the Azieli Group on large bond issues. 

The firm’s M&A practice was involved in a number of large cross-border deals in 2016/17. The deals involved strategic and private equity buyers and were a fairly even mix of public and private transactions. The highlights included representing Keter when it was bought by BC Partners; Xura when it was acquired by Siris Capital; Edwards in its acquisition of Israeli Valtech Cardio, and Osem’s board when the company was bought out by Nestle. 

In the projects space the firm has advised developers in the process of building energy power plants, and acted for the state in a tender process for contracts to build new hospitals.

High-tech, healthcare, life sciences, oil and gas, real estate, and telecommunications are sectors in which the firm has specialists.  

Blue Square Real Estate, Gett, IDB Group and Israel railways are among the firm’s key clients. 


Herzog Fox & Neeman

Herzog Fox & Neeman has market leading transactional practices across the financial and corporate space, with strong, commercial, and experienced lending and finance, securities, and M&A specialists. The firm is also experienced in project development. 

In the banking and finance area the firm has been involved in a broad range of transactions from margin loans, to real estate and acquisition financing. One highlight was advising the banks which financed Teva’s acquisition of Allergan. 

The capital markets practice was active in the debt area. Notable deals included advising Israel Electric Corporation on various bond issues, acting for the underwriters on a series of bonds issued by Teva, and representing Bank of Jerusalem when it sold a CoCo bond. 

In the project space, the firm has been active in the energy and infrastructure sector, advising developers on building and financing new power plants and transport infrastructure, and representing lenders on project financing developments. Among the headline projects was the Alon Tavor and Ramat Gavriel IPPs, where it represented the project companies. 

The firm has worked on large on domestic and cross-border deals across a range of sectors. A few examples were representing Meitav-Dash Investments when it was acquired by XIO and Mellanox when it bought EZ-Chip. 

Banking, energy, financial services, high-tech, infrastructure, real estate and transport are among the sectors in which the firm has expertise. 

Bank Leumi, Bank Hapoalim, Israel Electric Corporation, Mellanox Technologies and Microsoft are among the firm’s key clients.

Client feedback

"HFN's team is extremely professional and knowledgeable; very responsive; has great capacity to handle large and complex transactions; and also possess legal creativity, which is shown by their advice. The firm’s service is excellent. They provide solid responses, in a timely manner, which is derived from a deep business understanding and solid legal foundations. HFN has proved once again their commitment to their clients by taking the initiative, showing leadership and navigating any transaction to its successful completion.” – Banking and finance, capital markets, M&A, private equity 

“Fully committed partners and associates. Highly professional services and advice.” – Banking, capital markets: debt

“Great work on all areas. Thoughtful and creative approaches. Very attentive to customer needs.” – Banking, capital markets M&A, private equity

“The leading law firm in Israel. Diversification in services provided. High level of partners vis-a-vis professionality and responsiveness. Very good network with clients out of Israel and international law firms. Very good value for money.” – Banking, capital markets, M&A, private equity

"The availability and attention to detail of the team has been extremely helpful in highly sensitive tasks. Partners’ market understanding has been instrumental in negotiation and closing gaps between parties." – Banking, investment funds, M&A

“Premier firm in Israel. Full service firm that can handle anything. They have a good global network and can support all issues which are addressed to them. The team is very strong with a lot of experience and very sensible and practical advice. Fees are also very competitive.” – Banking, M&A

“The firm has represented us for many years and is very well versed in all aspects of activity vis-a-vis the Israeli government, accordingly providing excellent and focussed service.” – Banking, project development, project finance

“We worked with Janet Levy-Pahima and her team for an M&A transaction. It was the best team of lawyers I've ever worked with, period. They were not just legal experts, but true business partners.” – M&A

“Very happy with the work. Professional, commercial, practical, collaborative, thoughtful, timely. Strong client-oriented approach." – M&A, private equity

“Highly experienced and professional, service oriented, good business approach.” – M&A, project development, project finance

"Herzog Fox & Neeman is highly professional. They have tremendous experience in M&A. As they are deal makers, they focus on the client's interests. A year after they finished our M&A deal, I found out how their experience and excellent work had protected and helped us." – M&A, Restructuring 

“I found the firm to be at the very top in terms of professionalism, support, experience and attention to detail. Clients such as us require immediate access to a variety of legal expertise and in many cases almost instantly. I found HFN to be highly responsive and very well equipped to meet and exceed these needs. Theirs is a first-class legal team with an impressive depth and experience.”  – M&A, restructuring 

“I have been working closely on two M&A deals with Ran Hai and his team, and have been deeply impressed by the professionalism and commitment they have shown throughout the processes. It wasn't only drafting of documentation of the highest standard but also deep business, corporate and commercial understanding, leading to valuable advice reflected eventually in favorable closing documentation and terms.” – M&A, restructuring

“Strong professional teams, all very service oriented. All team members I've met, from the most senior to the most junior, were all well immersed in the details and intricacies of the case.” – Restructuring

Ran Hai

“Great lawyer with good balance between legal and business approaches; creative ideas; and a strong team for execution.”

“The highest standard of legal and business advice one could hope for.”

“Very happy with the work. Professional, commercial, practical, collaborative, thoughtful, timely. Strong, client-oriented approach.”

Ilanit Landesman Yogev

“Mrs Landesman Yogev’s style is very clean and professional. She goes down to detail and sees the big picture. She treats every person respectfully.”

“Ilanit Landesman Yogev has excellent connections with the regulators, which makes her an asset for any transaction. She has an encyclopaedic knowledge of corporate and securities laws, and has a remarkable ability to provide creative solutions in complex real-time situations.” 

Janet Levy Pahima

We worked with Janet Levy Pahima and her team for an M&A transaction. It was the best team of lawyers I've ever worked with, period.  They were not just legal experts, but true business partners. 

Meir Linzen 

“Superb legal expertise, very accessible, proactive approach, and remarkable attention to detail. In short, the kind of lawyer you want next to you when only the best will do.”

Yuval Meidar

“Very strong lawyer. very responsive and always available. Yuval has experience as in-house counsel as well so understands how to present matters to non-legal clients (i.e., CEO etc.).”

“Yuval have been available for the deal team 24/7 with accurate assessments for risk and advice on how to mitigate and move forward.”

Roy Nachimzon

“Roy Nachimzon is one of the best lawyers I have worked with. He has a good market understanding. I enjoyed listening to him negotiating.” 

Mark Phillips

“Professional, full control of the field, full control of customer details, high availability, caring.”

Ehud Sol

“Ehud Sol is considered among the leading and most prominent lawyers in Israel, among others, due to his vast experience, exceptional business understanding, legal creativity and pragmatic approach, which are all extremely important characteristics when dealing with complex M&A transactions.” 

“Udi has seen it all and done it all. He is able to assess a situation in a short time and come up with a creative solution. He is always available and responsive no matter the time of day. He is a true consiglieri.”

“Very charismatic and smart. Always found the way to lead the discussion towards a resolution.”


Meitar Liquornik Geva Leshem Tal

Until recently, Meitar Liquornik Geva Leshem Tal’s strongest transactional practices were banking (lending and regulatory and supervisory law advice), capital markets, and M&A. The firm can now add project finance - and in a wider context project development - to this list. 

Historically Meitar was known for corporate advice but in a similar way to how it secured a market-leading banking practice through a merger several years ago, the firm recently recruited one of the market’s leading projects teams. Given the expertise and experience of the group that was recruited, the firm may in the future have one of the leading practices in this field too.  

In the banking and finance area, the firm’s recent notable work included regulatory mandates and transactional work, predominantly on the side of banks or lenders, which were in some cases intuitional investors. The highlights included several large syndications and acquisition financings. 

Recent capital markets highlights for the firm were mostly debt issues. It also was involved in a handful of equity transactions – mostly issuer-side secondary offerings – and some derivative transactions for banks. The highlight debt deals included advising Mizrachi Tefahotn on raising $826 million through series of bond issues and advising Union Bank Of Israel on selling a CoCo bond.

The firm’s M&A practice has been busy, working on large cross-border strategic and private equity deals. The publishable highlights included acting for BC partners when it bought Keter and representing Equity One when it merged with Regency Centers Corporation.

In the projects space the firm has been advising on regulatory issues relating to energy projects.

There were a number of changes to the firm’s partnership in this research period. The firm has added two new teams – one focussed on projects from Erdinast Ben Nathan Toledano & Co, the other focussed on high-tech recruited from Gross Kleinhendler Hodak Halevy Greenberg & Co. Among the new partners in these two groups were Jonathan Finklestone, Tani Zahavi and Guy Kles, (all projects), and Itay Frishman, Shachar Hadar, and Miri Shalit. (all high-tech). All are highly regarded in their fields. 

Banking, energy, infrastructure, financial services and high-tech are sectors where the firm has expertise.

Client feedback 

“Most professional, very thorough, attention to every detail, and a pleasure to work with.” – Banking and finance

Jonathan Finklestone

"Jonathan has many years of experience advising banks and project companies. His good humour and commercial sense mean that deals can get done quickly, with minimum stress.”

Judith Gal-Or

“Amazing work. Deep understanding of the business, great to communicate with.”


Naschitz Brandes Amir

Naschitz Brandes Amir has one Israel’s leading private equity practices, for both transactional work and fund formation, and has good experience representing issuers on both domestic and international equity capital markets offerings. The firm often takes start-up clients from early stage investment through to IPO, merger, or sale.   

In the capital markets area, the firm’s recent deal highlights were mostly equity transactions. These included advising Plus500 on a secondary share offering on AIM; Overseas Commerce on its Tel Aviv IPO; and Magal Security Systems on a Nasdaq rights issue.

In M&A the firm was involved in private equity and strategic deals. A few of the highlights were advising Midea Group on its acquisition of Servotronix and acting for Shikun & Binui on the sale of the Hadera water desalination facility to IDE Technologies


Yigal Arnon & Co

Yigal Arnon & Co is broadly experienced in transactional work. The firm’s strongest financial and corporate practices are project finance, where it generally advises lenders, and M&A, where its often involved in large cross-border deals involving the US.

In banking and finance the firm had roles advising lenders on financings, including acting for HSBC and JPMorgan in a loan to Delek Drilling and Avner Oil Exploration to develop the Leviathan gas field. 

The firm’s recent capital markets highlights included domestic bond issues and representing Israeli clients on equity transactions on international exchanges.  

In M&A the firm had a strong 2017 securing roles on some of the largest inbound M&A deals. Among the highlights were two headline high-tech transactions, representing Intel in its acquisition of Mobileye and Shanghai Giant Network Technology in its acquisition of Playtika. 

In project development, the firm is involved in several transport projects, representing the state. These include acting for project company NTA Metropolitan Mass Transit System in developing the Jerusalem Light Rail Transit. 

High-tech, oil and gas, pharmaceuticals, real estate and transport are among the sectors where the firm has expertise.  

Azrieli Group, Harel, HSBC, JPMorgan and Medtronic are among the firm’s prominent clients. 

Client feedback 

“Extremely satisfied. Prompt and professional work all the time.” – Banking and finance

 “The partner is accessible and generally knowledgeable but there are too many people involved in the process and the accuracy is not perfect.” – Banking and finance

“Good, commercial-minded advice. Excellent response time and customer focussed attitude.” – M&A

David Osborne

“Customer oriented, good international background, flexible and responsive, hands-on attitude.”

David Roness 

“Excellent in all areas. Attention to detail, responsiveness and professionalism unmatched.”