Adani-Gadot group closes financing for Haifa Port

Categories: Capital Markets, Projects & Energy

Having secured the rights to buy 100% shares of Haifa Port Company Ltd., a consortium comprising India’s Adani Ports and Israel’s Gadot Group has now closed the financing.

Adani Ports and Gadot Group hold 70%-30% shares respectively in the consortium, which won the auction for the port last July, agreeing to pay NIS 4.1 billion. This week it was announced that the consortium had closed financing with a consortium of lenders led by Mizrahi Tefahot Bank.

The lending consortium includes Meitav Investment House and State Bank of India. The agreement is for a loan of NIS 1.7 billion for up to two years.