Israel Set to Approve Haifa Port Dividend Payout Before Elections
Translated & summarized from TheMarker by baba
The State of Israel and the Adani-Gadot Group, owners of Haifa Port, are nearing an agreement that will see the port company deposit nearly one billion shekels for development. In exchange, the owners will be allowed to withdraw an undisclosed dividend before the elections. The Companies Authority sees no issue with approving the deal during the election period.
The story in 4 lines · by baba
- Haifa Port owners will receive an undisclosed dividend before elections.
- The port company will deposit nearly 1 billion shekels into a trust account.
- The funds are earmarked for the development and improvement of Haifa Port.
- The Companies Authority has no objection to the approval during the election period.
The State of Israel and the owners of the Haifa Port Company, the Adani-Gadot Group, are expected to sign a new agreement before the upcoming elections. Under the terms of the deal, the port company will deposit nearly one billion shekels into a trust account designated for the port's development. In return, the state will permit the port's owners to withdraw a dividend, the amount of which has not been disclosed. The Companies Authority stated that it sees no impediment to approving the matter during the election period.
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