Independent journal on economy and transport policy
18:03 GMT+2
This page has been automatically translated by Original news
31 December the shareholders of Israel Corporation will vote the spin-off of the Zim
Green light of the Israeli State to the cession of 32% of the capital
November 27, 2014
Israel Corporation has convened for next 31 December (with dismissal to 7 January if the assembly in the course will not be reached the quorum) of which the shareholders of the Israeli group will vote the proposal of spin-off of a participated series of between which the shipowning company Zim(of 15 October 2014). The entire quotas stopped from the group in these companies will be transferred to the new society Kenon Holdings, constituted to Singapore, that it will be quoted to the Stock exchange of New York and the Stock exchange of Tel Aviv.
the shareholders of the Israeli group will receive share quotas the Kenon calculated on proportional base regarding the their current quotas with former date dividend. Moreover Israel Corporation will distribute a dividend for a total of 200 million euros to own shareholders.
the plan previews among other things that to the Zim a credit line for 50 million dollars for a period of two years with beginning from July 2014 is confirmed.
Currently Israel Corporation stops 32% of the capital stock of the Zim. The transfer of this quota is subject to the approval from the Israeli State, green light that Israel Corporation has announced to have 19th November obtained.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher