Adani Buys a Port in Israel Worth 1.2Billion Dollars
Asia’s Richest Man, Indian Business Tycoon Gautam Adani’s APSEZ share price went up on Friday 16th July after the company purchased a port in Israel worth 1.2Billion Dollars.
Gautam Adani is a first-generation entrepreneur, who has been massively diversifying his empire around the world, where he built his business into sectors including data centers, airports, digital services, media, and health care.
Earlier this year, Gautam Adani in terms of wealth took over Mukesh Ambani and became the richest man in Asia in February.
Asia’s Richest Man and Indian Business Tycoon Gautam Adani’s Company Adani Ports and Special Economic Zone Ltd (APSEZ) share price went up on Friday 16th July after the company purchased a port in Israel worth 1.2 Billion Dollars after which the share prices of Adani’s companies saw a hike of 2.1% during trading.
Gautam Adani, and its partner Gadot Chemical Tankers and Terminal Ltd. has purchased 100% shares in Haifa Port, Israel’s finance ministry has said. Gautam Adani’s Company Adani Ports will have a majority stake of 70% in the joint venture with Gadot holding the rest and the privatization of the port was part of an overall way for the local ports to increase competition and improve efficiency, the Israeli minister has said.
The latest win of Gautam Adani marks the rapidly growing global footprint of Adani’s ports into power after it acquired Holcim Ltd. which is an Indian cement unit worth $10.5 billion in May this year. What do you think about Adani’s latest purchase? Do mention your thoughts in the comment section below.
