Israeli Ports in $4 billion privatisation plan


Israel plans to issue minority stakes of up to 49% in state-owned companies, including two Israeli Ports, on the Tel Aviv Stock Exchange over the next three years in a bid to create revenue in the billions.

In 2015, Israel will seek to sell a minority stake in Israel Natural Gas Lines and the state postal company, as well as privatise Israel Military Industries (IMI), the Port of Ashdod, and several smaller companies.

Haifa Port and Israel Aerospace Industries (IAI) are also planned for privatisation in 2016.

Finance Minister Yair Lapid said: “This is another step in stopping the politicisation of government companies and reducing corruption [in the companies].”

The ministry said some companies, such as IAI, Israel Railways, water provider Mekorot, and the Israel Post would be sold through the Tel Aviv Stock Exchange while others – the ports and IMI – would be sold at one time or in stages in a private sale.

The move is expected to generate US$4.1 billion in revenue for Israel.

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