Zim sold two more ships

The current deal is Zim's third since the change in ownership. Earlier this year the company sold four ships for $140 million, on which Israel Corp. made a capital gain of NIS 175 million

00:00 ,01.11.2004 From: PORT2PORT

Zim lines reported to have sold two ships to third parties for $75.5 million, and will lease them back in a six-year contract.
 
Israel Corp. Zim's holding company will earn a NIS 85 million capital gain on the deal, which will be reported to the tax authorities in the company's financial report for first quarter of 2005, when the deal is completed.
 
The current deal is Zim's third since the change in ownership. Earlier this year the company sold four ships for $140 million, on which Israel Corp. made a capital gain of NIS 175 million.
 
Including the latest deal, Zim has sold ships worth $215.5 million, on which Israel Corp. will make an capital gain of NIS 260 million.

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