Simpson Thacher is representing Israel Discount Bank Ltd. in its sale of an approximately 15% equity stake in Discount Bancorp, Inc., the parent entity of Israel Discount Bank of New York (IDBNY), to Gallatin Point Capital LLC, in exchange for a $150 million investment. The closing of this transaction is subject to receiving approval from the Bank of Israel and other customary closing conditions.
IDBNY, the largest Israeli-owned bank operating outside of Israel, is a commercial bank providing a comprehensive range of banking services. It focuses on commercial banking, local private banking, and international private banking, and operates through branches in New York, Florida and California.
The Simpson Thacher team includes Sven Mickisch, Brian Christiansen, Matthew Nemeroff, Tim Gaffney, Makala Kaupalolo, Humberto Romero Carrillo, Wang Chen and Joseph Pucciarelli (M&A—FIG); Pilar Laitano Ferreira, Yuru (Rita) Fu and Yiran Wang (M&A); Jonathan Goldstein, Eli Shalam and Mohanad Salaimi (Tax); Edgar Lewandowski (Capital Markets); Jamin Koslowe and Ashlie Lawton (Executive Compensation and Employee Benefits); and Lori Lesser (IP).