BLP advises Pilat Media Global plc

Berwin Leighton Paisner LLP (“BLP”) is advising Pilat Media Global plc (“Pilat”) on its £16.3m merger with SintecMedia Ltd (“Sintec”), which was announced recently.

Pilat develops, markets and supports software systems for over fifty blue chip media clients around the world and is headquartered in the United Kingdom with subsidiary operations in the US, Australia, The Netherlands and Israel.

Pilat is listed on both AIM and the Tel Aviv Stock Exchange and is subject to both the UK Takeover Code and the rules of the Israeli Securities Authority (“ISA”). The transaction is the first merger governed by the Takeover Code and subject to the jurisdiction of both the Takeover Panel and the ISA.

Corporate finance partner Jonathan Morris is leading the BLP team, assisted by senior associate Nick Myatt.

Commenting on the transaction, Jonathan Morris said, “This is an interesting and to date unique transaction, Pilat’s dual listing adding significant complexity to the process because of the need to satisfy two different sets of regulations, necessitating bespoke solutions to the offer’s terms and conditions, acceptance calculations and consideration settlement arrangements”.

Shore Capital and Corporate Ltd (Graham Shore, Dru Danford) are acting as financial advisers to Pilat. Barnea & Co. (Michael Barnea, Oren Speiser) is advising Pilat on Israeli law aspects of the transaction. Investec Investment Banking (David Currie) and Halliwells LLP (Clive Garston, John Burnand) are advising Sintec.

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