Our firm advised the independent committee of Ayalon Insurance Company Ltd. (“Ayalon”) in a transaction that was recently signed. In this transaction, Ayalon is set to acquire all the shares held by its controlling shareholder, Wesure Global Tech Ltd., a publicly traded company, in the digital insurance company, Wesure Insurance Company Ltd. (“Wesure Insurance”), in exchange for the issuance of Ayalon shares (the transaction reflects a value to Wesure Insurance of over NIS 130 million). Our firm accompanied the independent committee throughout the extensive and complex process of exploring alternatives for the proposed transaction, conducting due diligence on Wesure Insurance, negotiating with the controlling shareholder to establish the exchange ratio for the transaction, drafting the purchase agreement, and preparing a “transaction report” published ahead of Ayalon’s general meeting to approve the transaction (subject to additional pending conditions).
March 26, 2024
