The general feeling for prospective M&A in Israel remains positive. Israel is said to have the fastest growing economy in the developed world with the Central Statistics Bureau reporting 4.5 percent growth in 2010. M&A activity in the region is forecast to climb higher for the remainder of 2011 with a particular focus on the Internet and Medical Device sectors. Exit valuation predictions are also at the highest point since 2006. Q4 2010 experienced the first quarter-on-quarter increase in the number of venture capitalists expecting improvements in the overall economic climate since Q4 2009. Acquisition International speaks to Attorneys Doron Afik and Shlomi Turgeman, both senior partners at the law firm of Afik Turgeman.
Afik Turgeman law firm was established January 2007, and specializes in a wide array of legal fields and aims at providing its business clients with a one-stop legal shop.
"The commercial department of the firm's focus is on corporate law (full service to companies), antitrust, banking law, capital markets, derivatives transactions, day-to-day legal advise to coiporations and businesses, investments, mergers and acquisitions, securities, real property, high-tech, labour law and tax law.
“The litigation department of the film's focus is on complex commercial claims, corporate disputes, shareholders disputes, freeze of proceedings, rehabilitation of corporations, banking claims, labom■ disputes (representing employers and employees), defamation, commercial torts and international disputes. The firm also operates in the field of debt collection in legal proceedings, including by receiverships, bankruptcies and liquidations.
“In the white collar crime field, the firm's focus is on representation in antitrust and
securities crimes, environmental offences, building permits, business licensing, employment of aliens and tax offences. In the business licensing area the firm also represents municipalities as a prosecutor in such area.
"In the administrative and municipal field the firm focuses on tenders- tenders preparation, day-by-day advise to tender committees and preparing tenders for B.O.T projects, legal and management advise to municipalities, building permits, representation vis-a-vis government authorities, public sector labour law including collective agreement, remuneration agreements and high-rank employees agreements, municipal bonds, municipal tax, including advise to tax appeal committees, city- tax discount committees, municipal regulations, business licensing (including as prosecutor), electoral law and day-to-day legal advise to high-rank civil servants.”
What gives you an advantage over local and global competitors in your areas of expertise?
Excellency and the fact that our firm combines academy and practice. Our motto is "private label legal architecture". We think strategy; We think business-our client's business; We are not just lawyers. Our goal is to tailor-make the legal structure to the client's needs and this gives our client a huge advantage that the clients cannot get in other firms.”
Have lliere been any notable deals (size, complexity, duration, etc.) that you've been involved in recently?
“We have done multiple multi-million transactions and litigations, including a currently ongoing ILS 2.5 billion derivative suit. Attorney client privilege prevents us from elaborating.
“Our reasonable prices, which are considerably lower than the ones in the USA, England or Europe have also made many clients use our services for international transactions which are not related to Israel at all, using local lawyers only for local issues - bringing down the legal cost of any transaction. In a way, one may say that large international client is outsourcing their legal needs using our firm's services.”
Israel is said to have the fastest growing economy in the developed world with the Central Statistics Bureau reporting 4.5 % growth in 2010. What factors have driven tli is?
“I believe that Israel has a vety unique business culture with a combination of self- driven entrepreneuring, high business education and global thinking. To this one must add the excellent economical leadership Israel has today.”
Which sectors are attracting foreign investors?
“The main Israeli business sector attracting foreign investors in Israel would be the high- tech industiy where Israel is a world leader. Although we see today more and more foreign interest in the local Israeli market, such as large ВОТ project and retail.”
What are your predictions for 2011 regarding the market in Israel?
“We believe that the market will continue to grow at higher and higher speed together with the rehabilitation of the international economy.”
On a lighter note, what is Lite best piece of advice ever given to you?
“When you can’t explain things in simple way, it becomes complex. So if something is not simple, it won’t be simple. Keep understanding everything that you do as simple as you can.”