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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