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The Firm represents an investor group led by Matthew Bronfman in the acquisition of control of Israel Discount Bank. As part of its effort to privatize the Israeli banking sector, the Government of Israel published sale procedures in May 2004 inviting bids for the Government's majority stake in the Bank. The auction process was completed on February 1, 2005 when the Bronfman Group entered into an agreement to acquire 26% of the stock of the Bank for approximately $300 million and a 3-year option to acquire an additional 25% from the Government for the same per share price. Israel Discount Bank is the third largest Israeli bank and also has operations in the United States and other countries. The Bank will remain publicly traded on the Tel Aviv Stock Exchange. The transaction is expected to close in a few months following receipt of regulatory approvals.

In addition to Matthew Bronfman and trusts for the benefit of members of the Bronfman family, members of the investor group include Rubin Schron, Philip Milstein and Michael Rubinoff.

The Simpson Thacher team working on the transaction includes Brian Stadler, Maripat Alpuche, Barrie Covit, Brian Gingold, Joel Karansky, Benjamin Langille (corporate), Steve Todrys and Michelle Ingber (tax), Gary Rice (bank regulatory), Millie Kalik and David Stoll (trusts & estates), Ken Edgar and Aimee Adler (employee benefits) and Mardi Merjian (real estate).