Adani Ports, Gadot Win Bid To Acquire Israel's Haifa Port
The two companies will acquire 100% stake in the Haifa Port Co.
An alliance of Adani Ports and Special Economic Zone Ltd. and Israel's Gadot Chemicals Tankers & Terminals Ltd. won the bid to buy Israel's second-largest sea port Haifa.
"Delighted to win the tender for privatization of the Port of Haifa in Israel with our partner Gadot," Gautam Adani, chairman of Adani Group, said in a tweet. "Immense strategic and historical significance for both nations! Proud to be in Haifa, where Indians led, in 1918, one of the greatest cavalry charges in military history!"
The two companies will acquire 100% stake in the Haifa Port Co. Israeli media reports said the the alliance had bid 4.1 billion shekels (about $1.1 billion).
In January 2020, Israeli government approved the privatisation of the Haifa port. The resolution said that the Israeli government's entire stake in Haifa port will be sold as a unit to a strategic buyer.
Earlier, Naor Gilon, the Israeli ambassador to India, had confirmed that the Adani Group is part of the winning alliance.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.