Adani Ports, Gadot Buy Israel's Haifa Port for $1.18 Billion

Adani Ports, Gadot Buy Israel's Haifa Port for $1.18 Billion

Daily Current Affairs / Adani Ports, Gadot Buy Israel's Haifa Port for $1.18 Billion

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Category : Business and economics Published on: July 18 2022

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Adani Ports and chemicals and logistics group Gadot have won the bid to buy Israel’s Haifa Port.
Deal size is nearly to be $1.18 billion. Adani Ports will have a 70 percent stake in JV while the remaining stake will be held by Gadot.
Through the winning bid, the Adani-Gadot consortium has secured the rights to buy 100 per cent shares of Haifa Port Company Ltd.
The concession period of the Port of Haifa remains up to 2054.
Adani Ports and Special Economic Zones, the flagship transportation arm of the diversified Adani Group, is India’s largest private ports and Logistics Company.
It is present across 11 domestic ports in six maritime states, Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu, and Odisha.

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