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Yigal Arnon & Co

1 AZRIELI CENTRE, TEL AVIV 67021, ISRAEL
Tel:
Work +972 3 608 7777
Fax:
Fax +972 3 608 7724
Email:
Web:
www.arnon.co.il
Jerusalem, Tel Aviv, Tel Aviv

David Schapiro

Tel:
Work +972 3 608 7726
Email:
Web:
www.arnon.co.il/content/schapiro
Yigal Arnon & Co

Work Department

Asia Practice Group, Banking and Financial Services, Capital Markets, Commercial Law, Corporate Finance, Environmental Law, Mergers and Acquisitions, Project Finance, Venture Capital and Private equity.

Position

David Schapiro has represented Israeli and international clients for the past 20 years in a diverse and sophisticated transactional practice. His experience includes representing domestic and foreign clients in implementing complex corporate transactions, including mergers and acquisitions, public and private financings and complex project finance transactions. David has facilitated the implementation of some of the largest transactions completed in Israel. David has repeatedly been selected as "One of the World's Leading Lawyers" by Chambers Global guide to law firms. Legal 500 lists him edition as a recognized Israeli expert in the fields of Corporate Finance, Mergers & Acquisitions, Project Finance and Securities. Global Counsel 3,000 recommends him as a "Leading Individual" (their highest category) for "Company and Corporate Transactions", and he is highly recommended by Practical Law Company in the fields of Corporate/M&A and Restructuring and Insolvency. Israel's Maariv newspaper, has profiled David calling him "one of the most valued high-tech lawyers in Israel and the world." He is quoted in Chambers Global guide as a "standout attorney who is quite able to think outside the box" It further describes him as being "credited with taking his firm into the most lucrative project finance areas and praised for his very strong commercial acumen. His dynamic flexibility in following the market is much appreciated." David's recent (2009-2014) prominent transactions include: Representing TowerJazz in an agreement with Panasonic Corporation to create a joint venture to manufacture semiconductor products - Representing TowerJazz (Tower Semiconductor) in the acquisition of Japan based fabrication facility from Micron Technology for $140 million - Representing the Israel Infrastructure Fund (IIF) in its acquisition of interests in Derech Eretz Highways (DEC), the concessionaire for the Highway 6 BOT project for 600-700 Million NIS - Representing Siemens AG in the purchase of all the outstanding shares of Solel Solar Systems Ltd. for $420 million. - Representing Tower Semiconductor Ltd. in the acquisition of Jazz Technologies in a stock-for-stock transaction. - Representing Taro Pharmaceutical Industries Ltd. in its $250 million sale to India based Sun Pharmaceutical Ltd and the associated global restructuring of Taro's $250 million of debt. - Representing a consortium bidder in a tender issued by the State of Israel for the finance, design, construction, operation, maintenance and transfer of a sea-water desalination facility at Sorek, with an option to construct a power plant. - Representing a consortium bidder in a Tender issued by Mekorot Development & Enterprise Ltd. for the design, building and supervision, on a turn-key basis, of a seawater desalination plant at Ashdod, with production capabilities of at least 100 million cubic meters per year. - Representing Israel’s largest Bank, Bank Hapoalim in an additional credit facility in a tender issued by the State of Israel for the expansion of the existing desalination plants. - Representing Francisco Partners in its purchase of ex Libris. - Representing Ohio based billionaire Clay Mathile in his purchase and restructuring of ooVoo. - Representing Shapir Fast Lane, the concessionaire in a BOT financing of the first demand based, fluctuating toll road in the world. - Representing Tower Semiconductor in a series of public and private financings and debt restructurings in connection with the continued ramp up of its Fab 2 semiconductor wafer fabrication facility. - Representing Texas Instruments in its purchase of assets from Comsys Communications. - Representing Bank Hapoalim, in its $250 million refinancing of Lumenis Ltd. - Representing buy-out fund, Fortissimo in its purchase of Crow Ltd. - Representing Healthcare Ltd. in the spin off of its diagnostic medical business and its purchase of NexGen, an ethanol producer. - Representing a global consortium bidding on Israel's largest BOT Project, the Tel Aviv Light Railway.

Career

David frequently writes for various well-known professional publications. He contributed the chapters on Israeli law for Privatisation & Public Private Partnership Review 2007/08 and for Corporate Governance and Directors' Duties 2007. David also co-authored an article on Public offerings for Investor, and an article on Private Equity and Venture Capital in Israel for the International Financial Law Review Guide to Private Equity and Venture Capital. David also lectures on issues related to corporate governance and financing at Israel's key conferences such as the Annual hi-tech conference, Journey, and other corporate finance forums. Prior to joining Yigal Arnon & Co. over 17 years ago, David practiced law in the Corporate Department of Fried, Frank, Harris, Shriver & Jacobson in New York between 1987 and 1990.

Languages

David is fluent in English and Hebrew.

Member

David was admitted to the New York Bar (U.S. District Court, Southern and Eastern Districts of New York and U.S. Tax Court) in 1988 and to the Israel Bar in 1991.

Education

David graduated with a B.A cum laude from Yeshiva University in 1984 and received his law degree magna cum laude from the Benjamin N. Cardozo School of Law of Yeshiva University in 1987, where he was a member of the Cardozo Law Review, a Belkin Scholar and an Alexander Fellow.


Israel

Commercial, corporate and M&A

Within: Commercial, corporate and M&A

Yigal Arnon & Co is best known for hi-tech deals, where its corporate team is 'well suited to larger technology companies and growth companies'. In a standout matter, Barry Levenfeld acted for Mexican public company Mexichem in relation to its $1.5bn acquisition of Netafim. Also of note, David Schapiro and Eliran Furman are advising SteadyMed on its reverse triangular merger transaction with United Therapeutics Corporation in aggregate value of approximately $216m. Additionally, Orly Tsioni assisted the shareholders of Brack Capital Properties with its $302m sale of control in the company to Redzone Empire Holding. Also recommended is Barak Platt, who in 2017 was involved in the largest-ever M&A in the Israeli hi-tech space. The practice group was further strengthened in 2019 following its merger with Weinstock-Zecler & Co, which brought to the team Gidon Weinstock and Micki Shapira.

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Energy and infrastructure

Within: Energy and infrastructure

Yigal Arnon & Co is engaged by government bodies, project companies and contractors, and international lenders in the financing and development of some of the largest energy and infrastructure projects in Israel. Among the most active government-side counsel, the team, which includes Doron Tamir, is acting for the Ministry of Finance, Ministry of Transportation and the Municipality of Jerusalem in relation to all aspects of the Jerusalem Light Rail network. In addition, Tamir and Oren Roth are advising NTA Metropolitan Mass Transit System on the tendering for the design and construction of the Light Rail Transit project in Tel Aviv. On the lender side, Shiri Shaham and Simon Weintraub acted for JP Morgan and HSBC in relation to the provision of a $1.75bn term loan to finance the development of the Leviathan gas field. The team also advised JP Morgan Securities, CitiGroup Global Markets and HSBC Securities USA, as underwriters, on a series of project bond issuances in connection with the Tamar gas field, with an aggregate value of $2bn. Also recommended are Micha Tollman and David Schapiro, who are advising a consortium led by Shapir Civil & Marine Engineering on the construction of a new port in Haifa. The government-focused group was further strengthened in 2019 by its merger with Weinstock-Zecler & Co, which brought Ayelet Simon-Vekslar to the practice group.

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Hi-tech and start-ups

Within: Hi-tech and start-ups

Yigal Arnon & Co has developed an impressive reputation in the hi-tech market, where it advises clients ranging from Israeli start-ups to multinational giants on high-profile M&A and investment transactions. One key figure in the department is Barry Levenfeld, who advised Mexichem on the widely publicised $1.5bn acquisition of control in the Israeli drip irrigation technology company Netafim. Additionally, Levenfeld and Ben Sandler acted for IBM Corporation in relation to its acquisition of Israeli start-up Cloudigo. The team also has expertise acting on the side of the start-ups. David Schapiro and Eliran Furman advised Magicjack Vocaltec on the $143m acquisition by Nasdaq-listed B. Riley Financial of the client's entire share capital. Similarly, Barak Platt and Ezra Gross acted for Zooz Mobile, an Israeli e-payment company, in relation to its acquisition by PayU Global. The team has also handled significant M&A deals for Houzz, SteadyMed, and Electronic Arts.

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Legal Developments by:
Yigal Arnon & Co

Legal Developments in Israel

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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  • Israel Chapter in The Virtual Currency Regulation Review

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  • Spring is coming for real estate registration in Israel

    Israel may be the “Start-up Nation” and a world-renowned center of technological innovation, yet for many years the procedures and conduct of the Israeli Land Registry have been trapped in the past.
  • PLATFORMS FOR HIGH NET WORTH INVESTORS IN ISRAELI HIGH-TECH

    Israeli hi-tech and its sources of funding have grown and diversified tremendously since the bubble burst in 2001 and over the last decade since the height of the financial crisis in 2007-2008.
  • NONDISCRIMINATION IN 5G STANDARDS

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  • Crash Course on Non-Disclosure Agreements

    Non-disclosure agreements are a crucial, but often overlooked, tool in allowing startup companies to grow, build strategic partnerships and explore new business relationships necessary to develop their product or bring it to market. These agreements are often short (sometimes only a page or two) and lead many founders to forego legal advice to get past this "formality" and begin working with the other party to the NDA. Yet, NDAs are important agreements with potentially far-reaching implications for the protection of a company's confidential information and intellectual property, and mishandling of NDAs can come back to haunt a startup years later.
  • Advocates Eli Greenbaum and Ezra Gross of Yigal Arnon & Co. in The Lawyer Special Report editorial

    An interview-style piece in The Lawyer, Law in Israel: moving beyond tech, quoting Eli Greenbaum and Ezra Gross:
  • Publication of Adv. Adrian Daniel's Commentary in Private Banker International on GDPR & Blockchain

    Publication of Adv. Adrian Daniel's Commentary in Private Banker International on GDPR & Blockchain.
  • Article in MEA Markets on GDPR & Israeli Law

    GDPR & ISRAELI PRIVACY LAW - KEY DIFFERENCES Yoheved Novogroder-Shoshan & Miriam Friedmann of Yigal Arnon & Co. outline the key differences between GDPR & Israeli Privacy Law.  mea_markets_-_gdpr__israeli_law_-_key_differences_14.05.2018