Privatizations & Government Related Entities

Government Related Entities

Throughout the years GCG has accumulated unmatched experience in advising Israeli government-related entities, including: Israel Electric Company, Israel Aerospace Industries, Israel Ports Company, Israel Natural Gas Lines, and others. GCG’s role typically involves analyzing financial alternatives and assisting government-related entities in debt raising processes as well as credit rating related issued (both local and global).

GCG has been serving as a special advisor to IEC’s Board of Directors since 2012. GCG provided financial advice on topics of strategic financial plans, including the issuance of US$3bn global bonds under IEC’s GMTN programme and the issuance of local bonds, both private and public. In addition, during Israel’s gas supply crisis in 2011, and in order to address the sharp rise in prices of raw materials used by IEC, GCG acted as a financial advisor on IEC’s NIS9bn bond issuance (backed by government bonds).

Additionally, GCG advised the IEC Board of directors on all financial aspects of the recent assets settlement and structural reform and advised on all aspects concerning the sale of IEC’s combined-cycle gas-fired power plants (Alon Tavor and Ramat Hovav) as part of an international sale process.

Privatizations 

Over the years GCG advised both the Government Companies Authority (GCA) and the Ministry of Finance (M.I. Holding) as part of Israel’s major privatization processes.

Since 2018, GCG is acting as a financial advisor to IAI in connection with potential privatization / IPO, other capital raising for its activities and provides ongoing corporate finance and M&A advisory.

Our experience includes advisory on “buy-side” and “sell-side” mandates in all aspects of the privatization process. Our experience in the field of privatization in the Israeli market is unparalleled and includes: Bank Leumi (2006), sale of Israel Discount Bank (2006) to the Bronfman Group, divestiture of the Bronfman Group’s 25% holding in ISrael Discount Bank via block trade (2011), and others.

In addition, we advised  Saban Capital Group/Apax Partners on the privatization process of Bezeq Telecom and acted as an exclusive advisor on the privatization process of Oil Refineries Ltd. On the Oil Refineris privatization, GCG formulated a unique privatization plan which included a global placement of foreign financial institutes with the sale of control (50%) via an IPO.

Our Capabilities

  • Devising and implementing a Privatization strategy
  • Designing process in accordance with the regulatory framework
  • Corporate restructuring
  • Business valuation
  • Implementation and execution of a Privatization Plan

Transactions > Privatizations & Government Related Entities

IEC-Gas-Fired Plants Sale

GCG acted as a sell-side advisor to IEC on its Gas-fired plants sale.
Ramat Hovav power plant was sold for NIS4.25 billion


2020

Israel Aerospace Industries

GCG is acting as financial advisor to IAI in connection with potential privatization / IPO, other capital raising for its activities and providing ongoing corporate finance and M&A advisory

On-Going

Israel Natural Gas Lines

GCG acted as financial advisor to INGL in its NIS50 million public secondary bond issuance




2020

Israel Natural Gas Lines

GCG acted as financial advisor to INGL in its NIS2 billion private bond offering




2011-2015

Ashalim Solar–Plot A

Advisor to the State of Israel in one of the world's largest thermo-solar power plant BOT projects



2015

Igudan

Financial advisor for NIS600 Million infrastructure expansion debt raising




2015

Greenfield Port Project – India

Financial advisor to Israel Ports on the construction of Naval Port in India (USD 700 million)



2014

Igudan

Financial advisor and arranger of NIS 800 million from leading local banks




2014

Ashalim Solar–Plot B

Financial advisory for the tender committee led by the Ministry of Finance in the tender process and financial closing of a B.O.T. project for the construction of a 121MW solar-thermal power plant in Ashalim (USD 830M)

2014

IEC – Global Bond issuance

GCG acted as financial advisor to IEC's Board of Directors in its US$ 1.1 billion global bond issuance under the company's GMTN program



2014

IEC

GCG acted as financial advisor to IEC's Board of Directors in its US$ 500 million global bond issuance under the company's GMTN program



2012

Mekorot – Ashdod Desalination Plant

Sole Financial Advisor and Arranger USD 1.3 billion



2011

Mekorot – Limassol Desalination Plant

Financial Advisor and Arranger USD70 million




2011

Privatization of 25% stake in Discount Bank

GCG acted as financial advisor to the State of Israel (MI Holdings) in its disposition of the State's 25% stake in Discount Bank through a series of Block Trades


2010

Israel Post Company

NIS400 million Private Placement bond offering advisor




2010

ORL Privatization

GCG acted as financial advisor to the Governmental Companies Authority in the privatization of ORL (Oil Refineries) through an IPO for a total consideration of NIS6.43 billion


2007

Privatization of Discount Bank

GCG advised MI Holdings on the privatization of the controlling stake in Discount Bank for a total consideration of NIS1.3 billion



2006

Apax Partners

Financial advisor in the privatization process of Pension Funds NIS300 million




2005

Privatization of Bank Leumi

Financial advisor to MI Holdings (government) on sale of controlling stake of Bank Leumi NIS2.474 billion



2005

Bezeq Privatization

Financing for the acquisition of the controlling stake GCG acted as financial advisor in the financing of USD900 million for the acquisition of a controlling stake in Bezeq (Bank Leumi, Bank Hapoalim and financial institutions)

2005

Tupras

USD4 billion bid for the acquisition (through privatization) of Turkish Refineries (GCG acted as special advisor with ABN Amro)



2005

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