Bank Mizrahi Tefahot will lead a consortium for the purchase of the Port of Haifa

Bank Mizrahi Tefahot will lead a consortium of financiers for the purchase of the Port of Haifa. Together with the partners, the bank will provide credit in the amount of NIS 1.7 billion to complete the financing of the purchase. The consortium will include Meitav Investment House and SBI.
The Adni Gadot group, which won the state tender for the privatization of the Haifa port, today (Sunday) closed financing for the purchase of the port. The group, which received several financing offers from banking consortia in Israel and abroad, chose the financing offer given by the group led by Bank Mizrahi.
The group includes Meitav Investment House and SBI Bank (State Bank of India) which, according to the agreement signed between the parties, will provide a loan for up to two years in the amount of approximately NIS 1.7 billion.
In order not to absorb high interest expenses over a period of approximately 32 years of the franchise, the Adani and Gadot group chose to take a short-term loan. The remaining amount required to complete the purchase will be financed by Adani Gadot from their own sources.
Karen Edney, CEO of APSEZ, said: "I am happy that our investment in Haifa port is progressing according to plans and we were able to achieve this important milestone. I am sure that this is just the beginning of a much deeper relationship that will develop between the Adani Group and Israel and its investments in the region. The Adni Gadot Group have completed the financial closing process and we are on our way to completing the purchase of Haifa Port on the required schedule."
Ofer Linchevski, CEO of Gadot, said: "We thank Mizrahi Bank, the Meitav Investment House, and the other entities that are partners in the financing group, who believe in our vision for the development of Haifa Port. The proposals submitted to us indicate that even in this period, Adni and Gadot enjoy exceptional economic capacity in the terms of the Israeli market and a high level of trust from the financial bodies in Israel and around the world.
"These financial capabilities and the strength of the group will allow us to realize the vision of developing Haifa Port and turning it into the leading national port in the State of Israel. A port that will be the preferred gateway for cargo coming from the countries of the Far East and destined for the West.
"The Gadot Group could not have chosen a more worthy partner than the Adani Group, with its professional knowledge and world-wide holdings in ports, airports and green energy projects. Adani's extensive business, whose value has soared to over 200 billion dollars in recent years, and its financial strength will enable us alongside the knowledge accumulated in the Gadot Group , to maximize the port's assets".
The Gadot Group is controlled by the Tana Foundation and the Valio LBH Group was established 63 years ago. Gradually, through mergers and acquisitions, the group, managed by CEO Ofer Linchevski and chairman Dr. Ariel Halperin, grew into an influential business group in the field of import, transport, storage and marketing of chemicals and oils in Israel, Germany, Belgium and the Netherlands. Gadot owns and operates major infrastructures in the chemicals industry, including chemical terminals in Israel.
"The largest chemical terminal the company owns is located in Belgium. The group is also the owner of Pe Gilit operations in Israel and operates a fleet of 14 tankers. Over the past few years Gadot's results have shown constant growth both in the field of trade and in the field of logistics and the supply chain at sea, in ports, and on land.
The Indian group Adni is controlled by Gautam Adni, the second richest man in the world. Adani Group has huge holdings in the fields of thermal and solar energy, ports, cement mines and power plants and is the controlling owner of the airport in Mumbai, India - the second largest in the world. The Adani Group is also the largest solar electricity producer in the world and the second greenest electricity producer in the world. The group is expected to invest about 70 billion dollars in green energy projects by 2030.
The Port of Haifa is the leading port in Israel in cruise ship passenger activity and handling bulk goods and the second largest in the field of containers.