December 14, 2017

Gornitzky represents Fattal Group in a transaction for the purchase of 36 hotels in England, Scotland and Ireland.

Gornitzky represented Fattal Group in a joint transaction with a Swedish partner that operates 120 hotels in Northern Europe for the acquisition of the management and rental rights of 36 hotels in Jurys Inn in England, Scotland and Ireland for a period of 25 years. The total consideration of the transaction is £ 800 million and Fattal’s share is £ 120 million.

This is the largest transaction for the purchase of hotels ever made by an Israeli company in Europe, and includes a complex series of multi-stage agreements, including finance agreements (with international and Israeli financiers), management and rental agreements and a framework agreement with the partner, inter-alia, in order to obtain the desired structure and distribution of the portfolio.

The companies were represented by Partners Jack Smith and Ori Yitzhak together with Associates Yael Kleinman and Samuel Berkowitz.

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