Israel Corp. completes purchase of state share in Zim
Israel Corp., a private company controlled by Israeli millionaires the Ofer brothers, has completed its purchase of the state of Israel’s 48.6-percent stake in Zim Israel Navigation Co.
The deal marks the full privatization of the company.
Israel Corp., a conglomerate that had already owned 48.9 percent of Zim, now owns 97.5 percent of the Israeli shipping company. It had bid NIS504 million ($115 million) to acquire the state’s share in the Israeli shipping company.