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The Israeli state loses control of Zim

Financially struggling Israeli container carrier Zim has secured a long-term financial restructuring agreement worth a total USD three billion. The agreement will reduce the state's ownership stake to 32 percent.

Photo: ZIM

Israeli container carrier Zim has landed a financial restructuring agreement that amounts to a total of USD three billion, says the company in a statement.

The carrier has struggled with serious financial difficulties for a long time now and has been working to restructure its debt, just as the company's management has called for the primary share, owned by the state of Israel, to be diluted. Both of these objectives have now been realized, says the carrier.

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