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Company in Israel

  • Teva set to win EU okay for $40.5-billion Allergan deal

    ISRAEL, 2016/04/16 Teva Pharmaceutical Industries is expected to win EU antitrust approval for its $40.5-billion (U.S.) (£24.4-billion) bid for Allergan’s generics unit next agreeing to sell off some of its products to appease regulators, three people familiar with the matter said on Wednesday. Teva, the world’s biggest generic drugsmaker, will divest some drugs by presently on the market and others in the pipeline to address competition concerns by the European Commission, the people said. The package includes products from both Teva and Allergan.

  • Beny Steinmetz tries again for Scorpio debt arrangement

    ISRAEL, 2016/01/10 Two months next the bondholders in failing real estate company Scorpio Real Estate Ltd. (TASE: SCRP.B1) rejected a deficit arrangement proposed by billionaire Beny Steinmetz, Scorpio's controlling shareholder, Scorpio is making an extra proposition. The company today published principles for a possible new deficit arrangement that it hopes the bondholders will approve. Like the previous proposition, the new proposition as well includes a one third reduction in the deficit, from NIS 240 million to NIS 160 million. The difference between the proposals is that under the current proposition, the remaining bond principal will be repaid in four gradually increasing payments, inclunding a minimum payment of NIS 20 million by June 30, 2016, rising to an NIS 80 million minimum payment by June 30, 2019, at the same time as it as well undertakes to repay the remaining principal to the bondholders. Under the previous proposition, payments would not have begun until June 30, 2019.

  • Africa Israel CEO: We have cash, assets for sale

    ISRAEL, 2016/01/10 Avraham Novogrocki told Africa Israel bondholders how the company plans to service its deficit. Africa Israel Investments Ltd. (TASE:AFIL) CEO Avraham Novogrocki made a presentation of the company's business to bondholders on Thursday. Novogrocki surveyed each company in the group and explained its activity. On AFI Development, Novogrocki said, part other things, "This is a predominant company in the group and it is significant to us. Its business is conducted in Moscow.

  • A search for shady solutions under the brutal Israeli sun

    ISRAEL, 2015/07/31 Finding shady solutions for Israel’s public spaces, where glaring sunshine often reigns supreme, is the focus of a new exhibit at the Design Museum in the central Israeli town of Holon. Titled “Urban Shade in Israel,” the exhibit looks at how Israeli cities were modeled on European designs and not tailored for the hot Middle Eastern climate, said Maya Dvash, a curator and editor of all printed materials for the museum. googletag.cmd.push(function() { googletag.display(\'div-gpt-ad-1328660580467-1\'); }); “The major thing about sun is it bothers everybody,” said Dvash. “The playgrounds are blank because parents are afraid to send their kids to play there.”

  • Teva Pharmaceutical Industries building in Jerusalem

    ISRAEL, 2015/07/29 Teva Pharmaceutical Industries Ltd. said on Monday it would buy the generics unit of Allergan PLC for $40.5 billion in the major-ever acquisition by an Israeli company. Under the agreement, Teva will receive the Dublin-based company’s Actavis world generics business, inclunding commercial units, manufacturing operations and R&D units related to generics. It as well will get the international over-the-counter (OTC) commercial unit, not inclunding eye care products. Prime Minister Benjamin Netanyahu cited the transaction in a speech at the Knesset highlighting the importance of encouraging the private sector, saying he is “proud” of Israeli businesses that push the economy forward.

  • Israel’s TheraCoat said to seek more than $20 million before IPO

    ISRAEL, 2015/05/29 TheraCoat, a developer of treatments for urinary tract diseases, is seeking to raise additional than $20 million in coming months as it prepares for an initial public offering in New York, people with knowledge of the matter said. The Israeli company, which says its gel technology allows cancer drugs to stick better to the bladder wall, may be listed on the Nasdaq Stock Market as early as this year, one of the people said, declining to be named as the matter is confidential. The company will seek a valuation of about $200 million in the IPO, the people said.

  • Ubimo, A Location-Based Mobile Audience Targeting Startup Founded By Ex-Googlers, Raises $2M Seed Round

    ISRAEL, 2015/04/04 Ubimo, a startup that focuses on location-based mobile audience targeting, has raised a $2 million seed round led by Pitango Venture Capital with the participation of serial entrepreneur and angel investor Eyal Gura. Based in Tel Aviv, Ubimo was founded by the team behind Web widget developer LabPixies, which was acquired by Google for $25 million in 2010. Its executives are CEO Ran Ben-Yair, CTO Oded Poncz, Creative Director Udi Graff and COO Gilad Amitai. Ubimo will use its new funding to scale up its product offerings and grow its sales presence in the U.S.

  • The Rehovot-based company develops hair fiber optical digital reader technology.

    ISRAEL, 2014/12/20 French cosmetics and beauty care giant L'Oreal has announced the acquisition of ColoRight. The Israeli start-up develops hair fiber optical digital reader technology. L'Oreal said, “Through this acquisition, L’Oréal reinforces its historic leadership in hair research,” L'Oreal added that ColoRight will maintain its offices in Israel and will continue to be managed by CEO Sagiv Lustig. No financial details about the transaction were disclosed. Based in Rehovot, ColoRight was founded in 2002 and employs 50 people in Israel. The company is owned by digital print pioneer Benny Landa who serves as chairman, and investors reportedly include Yair Goldfinger of Mirabilis/ICQ fame.

  • Leumi could sell Israel-Corp spinoff stake

    ISRAEL, 2014/12/20 The completion of splitting off some of Israel Corporation's (TASE: ILCO) assets into a company named Kenon is expected to cause an increase in the equity of Bank Leumi (TASE: LUMI), which owns 18% of Israel Corporation. It is as well believed that Bank Leumi has no interest in investing in Kenon, and is likely to sell its shares, probably next year, which could earn the bank considerable profits. In the next two weeks, Israel Corporation is slated to finish the spinoff process, and to register Kenon for trading on a US stock exchange. Kenon will be assigned Israel Corporation's holdings in Zim Integrated Shipping Services Ltd., IC Power, and Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM). Instantly with being listed for trading, Kenon will distribute a dividend in kind to Israel Corporation's shareholders, headed by Idan Ofer (43%) and Bank Leumi (TASE: LUMI) (18%).

  • Asian startup accelerator in Israel

    ISRAEL, 2014/09/02 Asia is the next for Israeli startups, say the organizers behind the new and initial-of-its-kind Asian startup accelerator in Israel. StartupEast, in partnership with IDC’s Zell entrepreneurship program, are hosting a group of Korean entrepreneurs in a three-week course in Tel Aviv. StartupEast dubs itself as the only accelerator in Israel having extensive business networks across Asia, inclunding Singapore, Hong Kong and Seoul. Its goal is to bridge between Israeli innovation and the immense market opportunities which Asia presents.
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