June 25, 2019
An investor group led by Searchlight Capital Partners, L.P. has signed an agreement with Internet – Gold Golden Lines and B Communications (“BComm”) to acquire a controlling stake in BComm, and thereby the controlling stake in Bezeq – The Israeli Telecommunication Corp., Ltd. (“Bezeq”). The transaction will facilitate an overall cash injection of NIS 640 million into BComm’s treasury. The consummation of the transaction is subject to customary closing conditions, including antitrust clearance and approval of the Israeli Ministry of Communication.
Latham & Watkins LLP acted as the lead deal counsel for Searchlight, with a corporate deal team led by New York partner David Kurzweil and associate Eyal Orgad, with associate Gilad Zohari. Advice was also provided by New York partner Andrea Schwartzman on investment funds matters; by New York partner Lisa Watts and Chicago partner Rene de Vera on tax matters; and by London partner Joshua Kiernan.