Our office represented Dan Public Transportation Company Ltd. in a strategic structural reorganization, which was completed on December 31, 2024, and was carried out through a court-approved arrangement in accordance with Section 350 of the Companies Law. As part of the structural reorganization, the real estate and water infrastructure activities were separated from the group’s transportation activities and transferred as a cash dividend to a newly established sister company – Dan Equity Real Estate Ltd. As part of the legal advisory, our office represented the company in submitting the application to the Economic District Court in Tel Aviv for the structural change (which included detailed prospectus-like disclosure about the group’s activities and the structural change), in convening and holding a general meeting of the company’s shareholders, and in obtaining third-party approvals (including regulatory approvals) for the approval of the structural change and in reorganizing the group’s financing structure, including securing financing of approximately NIS 1 billion. The completion of the structural reorganization represents a significant milestone in the activities of the Dan Group over the years, enabling the maximization of the business and economic potential inherent in each of the group’s areas of activity, as well as expanding the possibility for the entry of strategic investors in the future or for an IPO.
January 09, 2025
