The privatization of Israel's ports moved into gear today as the government named three underwriters to lead the IPO of Haifa Port Co. Ltd. and three other underwriters to lead the IPO of Ashdod Port Co. Ltd.

The three lead underwriters named to head consortia for Haifa Port are Clal Finance Batucha Ltd. (TASE:CLFN) unit Clal Finance Underwriting Ltd., Bank Leumi (TASE:LUMI) unit Leumi Partners, and Menorah Mivtachim Holdings Ltd. (TASE: MORA) unit Menorah Mivtachim Underwriters and Management Ltd.

The three lead underwriters named to head consortia for Ashdod Port are: Poalim IBI Underwriting and Investments Ltd. (TASE:PIU), Leader Capital Markets Ltd. (TASE:LDRC) unit Leader Issuing (1993) Ltd. and Excellence Nessuah unit Excellence Nessuah Underwriting (1993) Ltd.

This is the first phase of the privatization of the ports as decided in September 2009. During this phase the government will sell up to 15% of its holdings in the ports this year.

Published by Globes [online], Israel business news - www.globes-online.com - on March 9, 2010

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