For the past 35 years, David Schapiro has represented Israeli and international clients in a diverse and sophisticated transactional practice. Having acted in some of the largest transactions completed in Israel, David’s experience includes representing domestic and foreign clients in complex corporate transactions, including mergers and acquisitions, project finance transactions, and financings.

David has authored a series of books entitled: The Art of Negotiating (volumes 1-3 published by Steimatzky). In a profile that appeared in Israel’s Maariv newspaper, David was referred to as “one of the most valued high-tech lawyers in Israel and the world”. He has repeatedly been selected as one of the world’s leading lawyers by Chambers Global Guide to Law Firms, where he is referred to as “One of the best lawyers in Israel for complicated transactions and M&A.” The Legal 500 lists him as a recognized Israeli expert in the fields of commercial corporate, and M&A, Energy, and Infrastructure.

David also lectures at Israel’s key conferences and corporate finance forums on issues related to corporate governance and financing.

Prior to joining Arnon, Tadmor-Levy, David practiced law in the Corporate Department of Fried, Frank, Harris, Shriver & Jacobson in New York between 1987 and 1990. He joined our firm in 1990 and became a partner in 1994, and was a member of the executive committee from its inception in 1997, until 2017. He also served as the managing partner of the Tel Aviv office from 2001-2014.

David and his wife have four children and 11 grandchildren. David is an active duty reserve officer in the Israel Defense Forces, with the rank of Lieutenant Colonel.

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. He 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.


  • Represented Shapir in a deal to acquire Fedex’s local logistics and shipping exclusive representative, Fritz Companies Israel T. Ltd..
  • Represented Shapir in negotiating and entering into an agreement for the acquisition of 15% of the shares of the Paz Ashdod Refinery, at a value of 1.65 billion NIS.
  • Represented Generation Capital in the sale of 27% of it shares in Bon Tour to Leumi Partners and two other investors, for approximately 171 million NIS.
  • Represented Shapir in its acquisition of control of the leading sheltered housing network in Israel, Ad 120.
  • Represented Shapir and Orian throughout the tender process for the financing, design, construction, operation and maintenance of the Marhas Project, a PPP/PFI project issued by the Ministry of Defense on behalf of the State of Israel. The project is the largest tender issued by the Ministry of Defense to the private sector to date, and includes the construction and relocation of all the IDF supply centers into three consolidated centers.
  • Represented Azrieli Group company, Granite Hacarmel Investments, in its:
    • Sale of Sonol Israel to Israel Oil & Gas Fund LP for approximately NIS 400 million
    • Sale of Tambour Ltd. to the Singaporean Kusto Group, for NIS 500 million
  • Represented TowerJazz in its corporate and M&A matters including:
    • Acquisition of Integrated Products’ wafer manufacturing plant of Maxim, a semiconductor foundry in Texas, USA, for $40 million in an all-share transaction
    • An agreement with Panasonic Corporation to create a joint venture to manufacture semiconductor products.
    • Acquisition of Japan based fabrication facility from Micron Technology for $140 million.
    • Acquisition of Jazz Technologies in a stock-for-stock transaction.
  • Represented Israeli networking company Silicom Ltd. in its:
    • Acquisition of Danish network appliances company Fiberblaze.
    • Acquisition of Virginia, U.S.A. based company ADI Engineering.
  • Represented OpenRest in its acquisition by Ltd.
  • Represented the Israel Infrastructure Fund (IIF) in its acquisition of interests in Derech Eretz Highways (DEC), the concessionaire for the Highway 6 BOT project, for approximately NIS 700 Million.
  • Represented 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 debt.
  • Represented JP Morgan as the lead underwriter of a private placement to Israeli and foreign institutional investors of senior secured notes in the aggregate amount of $800 million, issued by B Communications Ltd.
  • Represented Motti Ben Moshe in a Buy Me Buy You deal, where his partner Eduardo Elsztain purchased Ben Moshe’s shares in IDB Development Corporation, against a total consideration of approximately NIS 150 million.
  • Represented Bank Hapoalim in project finance and corporate matters, including:
    • The financings of the Palmahim desalination plant, one of the only five desalination plants in Israel, owned and operated by Granite Hacarmel (part of Azrieli Group).
    • Refinancing of Lumenis Ltd. for $250 million.
  • Representation of Magicjack Vocaltec Ltd. in its merger with B. Riley Financial, Inc. for approximately $143 million.
  • Representation of Siemens Israel in project finance and corporate matters, including:
    • Acquisition of all the outstanding shares of Solel Solar Systems Ltd. for $420 million.
    • Representation of Siemens Israel as the EPC and maintenance contractor for five new PV solar energy farms in the Negev and Arava as part of a NIS 400 million, 35MV project.
    • Representation of Siemens Israel in the establishment of the Beer Tuvia power plant project, including natural gas design and construction works.


Capital markets, M&A, Private equity, Project finance
Global 2024: Corporate/M&A
Commercial, Corporate and M&A, Infrastructure, Energy
Capital markets M&A Private equity Project finance
Recommended 2024: Capital Markets - Structured Finance Global Leader 2023: Capital Markets M&A
Commercial, Corporate And M&A Energy Infrastructure
Global 2023: Corporate/M&A

Chambers Global

“David is one of the best lawyers in Israel for complicated transactions and M&A.”

“He is the best dealmaker we have worked with. He is always up to the task and manages to construct the best win-win solutions in the deal.”


1987 Benjamin N. Cardozo School of Law of Yeshiva University | JD (magna cum laude)
1984 Yeshiva University | BA (cum laude)
1991 Israel
1988 New York
David Shapiro

David Schapiro

132 Begin Road, Azrieli Center, Tel Aviv 6702101, Israel
David Shapiro