Israel Corp this week reported that Zim Integrated Shipping Services had signed a non-binding letter of intent to sell its holding in a foreign company that provides services to the shipping industry for US$130m-US$170m (€105m-€138m).
Although the buyer remains unnamed, Zim said that it was a company with operations related to shipping, but which did not own any ships.
It was also reported that Zim had agreed to sell its 8 per cent stake in a joint venture in China to a foreign firm for CNY197m (€23m). The joint venture built and operates 18 terminals for cargo trains in China, according to Port2Port.
The deal is reportedly subject to government approval in China. Zim posted a narrower loss of US$82m (€67m) in the first quarter compared with a loss of US$119m (€97m) one year earlier.
No comments yet