The Government Companies Authority received 17 bids for the Eilat Port Company Ltd., the first port to be privatized.
The Government Companies Authority will now review the bids to see that the bidders meet the threshold conditions, including financial soundness, and an absence of conflict of interests vis-à-vis the government and Israel Ports Development & Assets Company Ltd. The companies that pass this stage will submit a NIS 3 million bank guarantee, after which they will submit a business plan and price offer.
The Eilat Port mainly handles the import of cars and the export of chemicals, handling 6% of Israel's foreign trade. It has also become a port of call for cruise ships. The port has 127 employees. The port had NIS 122 million revenue in 2010 and a cash flow from operations was NIS 33 million.
The bidders include Ofer brother's Israel Chemicals Ltd. (TASE: ICL) unit Mifaeli Tovala in partnership with SSA Marine, Yosef Maiman controlled Gadot Chemicals Tankers and Terminals Ltd., Knafaim Holdings Ltd. (TASE: KNFM), Maman Cargo Terminals and Handling (TASE: MMAN), First Israel Mezzanine Investors Fund's (FIMI) Israel Opportunity IV LP, a> (TASE: GDOT), BGI Investments (1961) Ltd. (TASE: BGI), Emilia Development (OFG) Ltd. (TASE:EMDV), Gold Bond Group Ltd. (TASE:GOLD), controlled by Shlomo Schmeltzer, EngelInvest Israel Ltd., and Maritime Brokers & Investors AS.
Published by Globes [online], Israel business news - www.globes-online.com - on May 22, 2011
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