Israel approves USD 4B privatisation plan that includes Railway Company

Israel plans to issue minority stakes of up to 49 percent in state-owned companies on the Tel Aviv Stock Exchange over the next three years, a move the Finance Ministry said would bring in revenue of 15 billion shekels (USD 4.1B).
The socioeconomic cabinet, headed by Prime Minister Benjamin Netanyahu, approved the proposal, which aims to sell off stakes in Israel’s electric company, water provider, railway, post office and defence contractors and pay down the national debt.
The ministry said some companies, such as Israel Electric Corp, Israel Aerospace Industries, Israel Railways, water provider Mekorot, Israel Post and Rafael, would be sold through the Tel Aviv Stock Exchange while others – the ports and IMI – would be sold at one time or in stages in a private sale.

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