Israel Corp aims to reduce Zim stake to less than 50

摘要

Israel Corp expects to reduce its stake in Zim to less than 50% under restructuring talks now being held with all stakeholders, including banks, shipowners, shipyards, bondholders and shareholders. Debt for equity agreements are at the heart of negotiations to shore up the Israeli container line. Chief executive Rafi Danieli told Lloyd's List that the aim was to bring in more shareholders, although Israel Corp would retain the single largest stake.