Haifa Port sold to Indian billionaire for over NIS 4.1 billion, with the NIS 2.9 billion entering the Treasury
The sale of Israel’s Haifa port has been finalized for NIS 4.1 billion (appx. USD 1.15 billion, cementing the country’s position as a regional economic power. A consortium headed by India’s Adani Group has finalized its purchase of Israel’s Haifa Port, Israel’s Finance Ministry announced.
Previously, the Haifa Port was run by the Haifa Port Company, a governmental corporation. The intention to sell the port was announced in July 2021, with the winning bid by the consortium of Adani Ports and Gadot Group, owned by Tene Capital.
One of the new owners, Adani Ports and Special Economic Zone Limited, is owned by Indian billionaire Gautam Adani. Adani founded his namesake company and is listed as the third richest man in the world by Forbes Magazine. His net worth is estimated at USD 125 billion.
Goldfarb Seligman acted for the Adani-Gadot group. The acquisition transaction has been handled by partner Rayek Khoury and associate Talya Leader of the infrastructure practice (Corporate and Capital Markets Department). The financial close (senior loan and mezzanine loan), has been handled by partner Ariel Rosenberg (Head of the Banking and Finance Practice), and associate Yotam Galli.
As part of the transaction, Erdinast, Ben Nathan, Toledano & Co., With Hamburger Evron acted for Tene Capital, led by the firm’s M&A department (Lior Oren, Eyal Wiesel, Alon Abramovich, Shani Even Zahav and Jordan Levy) and the Financing department (Dan Sela, Roy Gross, Alon Abramovich, Alon Gibraltar and Bar Federbush) advised on the deal.
Gross Law Firm (GKH) advised the Governmental Companies Authority and the Ministry of Finance throughout the process, in a variety of practice matters. Rona Bergman Naveh, Partner of the Mergers and Acquisitions department, led the deal together with Tal Danon Shenhav, Partner and Head of our Infrastructure Department, who led all tender and administrative matters. The team also included Advocates Daniel Shpitzer, Tal Azaria and Polina Logvin.
Widespread coverage included articles in Ynet, among many others.
