I.D.I Insurance sells manager insurance business to Menora Mivtachim Insurance
Erdinast, Ben Nathan, Toledano & Co. represented I.D.I Insurance Company (Bituach Yashir) in the sale of its manager insurance business to Menora Mivtachim Insurance Company. By doing so, IDI (Israel Direct Insurance Ltd.) overtakes rivals, in terms of its company value (market cap), to become the country’s most valuable insurance company.
The transaction consisted of a complex and unique process, which included, among others complicated regulatory aspects, such as obtaining the approval of the Israeli Capital Market Authority, Insurance and Savings Authority, as well as working with the Israeli Privacy Protection Authority and the Israeli Competition Authority, while at the same time petitioning the Economic Department of the Tel Aviv District Court to approve the transaction under the special arrangement set out Section 350 of the Israeli Companies Law.
Bituach Yashir was represented by the Partners Doni Toledano, Jonathan Achiron, Alon Binyamini, Michal Rothschild, Arik Brenneisen, and Lior Etgar; attorneys Amir Algazi, Shelly Wechselmann, and Shani Even-Zahav; and intern Omer Harary.
