Noy Fund to Acquire 25% of Bayport Terminal Shares

Shanghai's SIPG Group and Noy Fund announced today that they have signed an agreement under which Noy Fund will acquire 25% of Bayport Terminal Co. Ltd. shares from SIPG, estimated at about 600 million shekels. Bayport Terminal holds the operating license for the Bayport Terminal in Haifa for 21 years. Alongside Noy Fund, the fund's major investors will also be involved.

SIPG, which operates Shanghai port, the world's largest and most advanced port located in Shanghai, has been operating the Bayport Terminal, Israel's most advanced container port, since 2021. The Bayport Terminal was established to increase competition in the port industry, upgrade Israel's maritime trade infrastructure, with berths that can serve the world's largest container ships. The port is operated using advanced automated systems, including smart cranes, controlled from a central control room. The port's operations are managed by an advanced system that optimizes the unloading and loading of containers onto the ship. The Bayport Terminal has become a central player in turning Israel into a regional port powerhouse, improving service, increasing competition, and strengthening Israel's economic connection to global markets.

Noy Fund, one of Israel's largest infrastructure and energy investment funds, was established in 2011 by managing partners Pini Cohen, Ran Shelach, and Gilad Bushvitz and has invested in more than 30 of the largest and most prominent projects in Israel in all infrastructure sectors including roads, energy, public transportation, projects with the Ministry of Defense, and renewable energy. The fund has raised a total of about 12 billion shekels in five funds and manages projects with a cumulative value of tens of billions of shekels. Among the fund's notable investments are Cross Israel Highway, Highway 6 North, solar power stations in Ashalim (Megillim and Negev Energy), Agera pumping station in Kokhav Hayarden, Netiv Express travel company, Alon Gas, and more.

The fund's managers have been in contact with the SIPG headquarters in Shanghai for several years. These contacts recently matured into an agreement to purchase 25% of Bayport Terminal shares. The agreement is subject to regulatory approval in Israel and the completion of the transaction is expected within about a year.

According to the CEO of Bayport Terminal, Mr. Miao Chiang: "Since it began operations in 2021, the Bayport Terminal has demonstrated impressive performance, despite many challenges. The SIPG Group sees great importance in its operations in Israel and will continue to work to expand the port's operations while integrating advanced technologies. SIPG is confident that the partnership with Noy Fund will strengthen the Bayport Terminal, ensure its continued growth, and its contribution to the Israeli economy."

The managers of Noy Fund stated: "The Bayport Terminal is one of the largest infrastructure projects ever established in Israel and is the most advanced and leading port in the field. After prolonged negotiations, we are proud of the agreement that has been formed and excited to embark on a joint path with the SIPG Group. This is our entry ticket to a new field in the fund's activity. We continue to promote significant projects in the infrastructure field in Israel and are proud to be a significant and one of the largest investors in the country in this field."

Noy Fund was accompanied in the transaction by Herzog Fox Neeman Law Office and SIPG was accompanied by Arnon Tadmor Levi Law Office.