Zim receives US$100m safety net

According to Alphaliner, Israel Corporation that owns 99.9% of Zim’s shares, has injected US$50m into the company while the Ofer-controlled Millennium Investments Elad will contribute a further US$50m to Zim before the end of March. Millennium. Investments Elad is the controlling shareholder of Israel Corp at 46.9%, with the Ofer family owning a further

3.7% of the shares.

Zim was due to present an updated business plan to its creditors in January but the Israel Corp disclosed in a statement last week that the shipping line was still “in the process of formulating the business plan.”