Zim finalises sale of equity interest in container manufacturers in China
IN an effort to strengthen its balance sheet and focus on its core container shipping business, Zim has wrapped up the US$50.5 million sale of stakes in two Chinese container manufacturers.
The wholly-owned subsidiary of Israel Corp announced earlier that it expects to book a capital gain of $31.5 million on the disposal of a 55 per cent holding in CXIC Star Container and a 25 per cent stake in a CXIC manufacturing plant, according to media reports.