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Lev Leviev to move to London

Lev Leviev, chairman of Israeli conglomerate Africa Israel Investments and one of Israel’s richest men, is moving to London to focus on his job as chairman at AFI Development , his spokesman said. “Since the initial public offering of AFI Development in London and Lev Leviev’s appointment as the company’s chairman he is required to spend more time there,” Leviev’s spokesman said in a statement, noting that Leviev would continue to serve in all other positions in Israel and globally.Israeli media reported that Leviev decided to devote more time to AFI as the company’s shares have dropped 34 percent since its IPO on the London Stock Exchange.

The company raised $1.4 billion at $14 per global depositary receipt in May. Its portfolio comprises 24 projects valued at $4.5 billion as of June 30.

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http://sg.news.yahoo.com/rtrs/20071227/tbs-africaisrael-leviev-955c2a1.html