Fortunes Diverge for Dubai, Turkey Firms Bidding on Israeli Port - Bloomberg
Israeli officials have cleared United Arab Emirates port operator DP World to move forward in the privatization of Israel’s largest seaport but kept Turkey’s Yildirim Holding AS under further scrutiny.
DP World received security clearance to move forward in the bidding process for the port in the northern city of Haifa, according to two people familiar with the matter. Local representatives for Yildirim lodged a complaint about unfair treatment in the process, according to a letter it sent to Israeli officials that was seen by Bloomberg.
The Government Companies Authority, which is running the privatization, said Israel is making necessary regulatory checks as part of confirming investors’ participation in the Port of Haifa privatization and that it expects the sale to be completed in a few months. Representatives for Yildirim and DP World declined to comment.
DP World’s progress is an important indicator for Israel’s new normalization agreement with the UAE, which the countries announced last summer. It marks a key nod of approval from Israel when it comes to Emirati involvement in strategic assets. Israel hopes to sell the facility for as much as 2 billion shekels ($612 million).
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