Adani Ports and Special Economic Zone Limited (APSEZ) and the Israeli company Gadot Chemical Terminals have completed the acquisition of Haifa Port, according to a recent statement by Israel’s finance ministry.
The deal, which is worth approximately US$1.1 billion, was completed after the Israeli government approved the agreement.
According to the deal, Adani Ports will have a 70% stake in the Israeli major port and Gadot will hold the remaining 30%.
The sale of the Haifa Port is part of the Israeli government’s plans for a reform of seaports aimed at increasing competition, improving services, helping importers and reducing the cost of living.
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