M&A

M&A

Adani Ports, Israel's Gadot to buy Haifa Port for $1.18 B

Economic Times  

Israel will sell Haifa Port, a major trade hub on its Mediterranean coast, to winning bidders Adani Ports of India and local chemicals and logistics group Gadot for 4.1 Billion shekels (USD 1.18 Billion). Adani will have a 70% stake and Gadot will hold the rest. Gadot and Adani made it to the end of a two-year tender process that Israel hopes will lower import prices and help shorten notoriously long wait times at Israeli harbors. The new group will operate the port until 2054