Independent journal on economy and transport policy
09:01 GMT+1
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the creditors of the Zim will assume the control of the Israeli shipowning company
Write-off of half of the debit of three billions of dollars. To Israel Corporation it will remain a third party of the capital
January 17, 2014
The shipowning society Israeli Zim Integrated Shipping Services Ltd. it has reached an agreement with own creditors whom the cancellation of 50% of the debit of the company previews. The devaluation of the agreed credit is in fact pairs to 5,25 billion shekel, figure that corresponds to about 1,5 billion dollars on a total debit of the Zim that piles exactly to about three billions of dollars.
The agreement previews moreover that Israel Corporation, the holding ones company that he takes part of the Israeli group Ofer and that he stops 99.66% of the capital stock of the Zim, loses the control of the shipowning company: to the creditors 66% of the company will go in fact. From part its Israel Corporation, in order to maintain a third party of the capital, with an operation of Buy-back will invest other 200 million dollars in the Zim, in which he has already introduced about 800 million dollars from when the begun world-wide recession in 2008 has hit the field of the shipping.
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The shipowning society Israeli Zim Integrated Shipping Services Ltd. it has reached an agreement with own creditors whom the cancellation of 50% of the debit of the company previews. The devaluation of the agreed credit is in fact pairs to 5,25 billion shekel, figure that corresponds to about 1,5 billion dollars on a total debit of the Zim that piles exactly to about three billions of dollars.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
