Zim ownership set to change as Israel Corp splits
Israeli holding company Israel Corp has announced that it will split in two and its 32% share of Israeli shipping line Zim will be transferred to the new spin-off company, Kenon Holdings.
Analysts have said that Israel Corp is transferring its less profitable assets, such as Zim, to the new company but holding on to its more profitable assets.
Zim made a full-year net loss of US$535m in 2013 and a net loss of US$129m in the first half of 2014.
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