Just as the Adani Group's $140 billion stock market rout was beginning after Hindenburg Research's allegations, the group expanded its footprint into Israel. Gautam Adani appeared with Israel's PM Benjamin Netanyahu, to announce the firm's takeover of the Haifa Port in partnership with the Gadot Group.
Now former Israeli ambassador to India, Ron Malka has been named the Chairman of Haifa Port.
From stock exchange director to envoy
The ex-envoy, who also served as the director of the Tel Aviv stock exchange from 2008 to 2013, and was also appointed its acting chairman.
Malka had been appointed as the Israeli ambassador to India in 2018, and then served as Director General as the Ministry of Economy from 2021.
He held the position till December 2022, months before Adani and Gadot group signed the deal for Haifa Port.
Adani's political links
Gautam Adani's political connections have been in the scanner for years, he had also been seen with former UK PM Boris Johnson, months before his ouster.
Later Johnson's younger brother Jo Johnson stepped down from the board of UK-based Elara Capital, which is being probed after being mentioned in the Hindenburg report.
Speaking of global expansion, the Adani group had to pull out of a deal for a port in Myanmar, due to its connections with a military-controlled firm facing US sanctions.
But as of March 2023, the conglomerate was still struggling to find a buyer for the port in Myanmar.
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