In November 2019, Isramco, Inc. (NASDAQ: ISRL) ("Isramco" or the "Company") announced that it was acquired by Naphtha Israel Petroleum Corporation Ltd. (XTAE: NFTA) (“Naphtha”) in a going private transaction.
Duff & Phelps served as a financial advisor and provided a fairness opinion to the special committee of the board of directors of Isramco, Inc. in connection with the transaction. Duff & Phelps consulted with Giza Singer Even of Tel Aviv on Israeli valuation matters and Morgan Lewis as its legal advisor on this transaction.
Isramco, Inc. is an independent oil and natural gas company engaged in the exploration, development and production of oil and natural gas properties located onshore in the United States and ownership of various royalty interests in oil and gas concessions located offshore Israel. The Company also operates a well service company that provides well maintenance, workover services, well completion and recompletion services and production services company that provides a full range of onshore production services U.S. oil and gas producers and a transportation company providing transport of liquefied petroleum products. Norton Rose Fulbright US LLP served as U.S. legal counsel to the special committee.
About Naphtha Israel Petroleum Corporation Ltd.
Naphtha is an Israeli public company, whose shares are listed for trading on the Tel-Aviv Stock Exchange (TLV:NFTA). Naphtha engages primarily, through its subsidiaries, in exploration, development and production of oil & gas: offshore Israel and onshore U.S. Naphtha also is engaged in the field of commercial real-estate and hotel management, in Israel and in Europe. Baker Botts L.L.P. served as U.S. legal counsel to Naphtha Group.