Israel to start port privatization in 2015

Israel will sell stakes in eight of the most profitable state-owned companies and the Mediterranean seaports of Haifa and Ashdod in November or December, according to reports.

According to Ori Yogev, the official at Israel’s Ministry of Finance, the ten companies to be sold generate close to 90% of total revenues of eighty-seven state-owned companies.

Israel expects the sales to bring close to USD4billion.

The government plans to offer a 49% stake in the Port of Ashdod on the Tel Aviv Stock Exchange at the end of the year, and will sell the controlling interest in the port in 2020.

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