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across project f inance


visit www.finance-monthly.com Yehuda Raveh & CO


Yehuda Raveh graduated from the Hebrew University of Jerusalem Law School and then studied at New York University. He then practised law with a Wall Street firm before returning to Israel in 1972, and starting Yehuda Raveh & Co., which has grown over the years to become one of the largest and most prestigious law firms in Israel. Here, Finance Monthly speaks to Mr Raveh about project finance in Israel, and more.


Q Please give me an overview of your company


Yehuda Raveh & Co. specialises in corporate and commercial law, including project finance and PPP projects, and has represented many large local and international companies in a variety of industries including project finance, PPP, real estate, hotels, construction, infrastructure, M&A, environment, banking, finance and other corporate and commercial industries.


Q


You have recently become one of the leading Israeli firms handling project finance, BOT/PFI


projects and infrastructure tender offers, land transactions, different municipal items, commercial law, and also regulatory issues - how did this come to be the case?


During recent years, there have been a growing number of large public infrastructure projects in Israel in which the private sector has been substantially involved in the construction and funding, through long-term partnerships between the public and private sectors, for financing, designing, building and operating infrastructure facilities. Many such projects are introduced by means of an


international tender, required and governed under Israeli Tender Law, to ensure an equal opportunity for all potential participants from the private sector. Yehuda Raveh & Co. has grown to become a


leading law firm in Israel in this field, and has acquired extensive experience in structuring, preparing and negotiating all relevant agreements and documents required for such projects. The firm is involved in virtually all major infrastructure and PPP projects in Israel. Besides representing consortiums, large corporations, individuals and authorities in Israel, the firm also represents foreign entities with an interest in Israel. I have also been chosen to serve as a member of the B.O.T. expert Group of the United


fi MONTHLY MARCH 2011


Nations that was established in order to assist with B.O.T. projects in Eastern Europe. Subsequently the firm is held in high repute by the


government, as well as business and financial sectors. The firm is uniquely familiar with the prevailing trends and current market conditions and has the requisite depth, breadth and experience to provide legal support to any such project. The firm’s experienced legal team provides its


clients with comprehensive legal counsel through the duration of a project, commencing from the pre-qualifications phase and throughout the bidding, financial closing and execution of the project, while representing a variety of clients, including issuers, bidders, concessionaries, advisors and financers.


Q


Can you tell me about any recent transaction(s) you have been working on?


Yehuda Raveh & Co. rendered legal services to clients in the vast majority of the project finance, large infrastructure BOT and PFI tenders and real estate projects on a national level in Israel. It all started with the Cross-Israel Highway project. This project, valued at $1.5 billion, included representation and all legal services for the consortium throughout the tender process, the election as the winning builder, the successful financial closing, and throughout the building and operating of the project. Additional projects include: The Jerusalem light rail


- $450 million, The Ashkelon power station and desalination plant - $450 million, mass transportation system - $2 billion, the Hadera desalination project - $250 million, Highway 431 - $450, Highway 531 - $600 million, student dorms at Hebrew University of Jerusalem - $90 million, The Tel Aviv Light Rail - $3.5 billion, as well as many other projects. Recent transactions, finalised in the past few months, include firstly the acquisition of 50 per cent


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