News / New court deal with government means Zim can complete financial restructure

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Israel Corporation has reached a compromise with the government over the stock transfer restrictions of the state’s “golden share” holding in Zim, allowing its troubled ocean carrier subsidiary to finish its restructuring.

But it is a far from ideal result for Israel Corp, which pushed hard for the government to surrender the blocking vote it holds in Zim – dating back to when the carrier was state-owned – which, according to Zim president and chief executive Rafi Danieli, “needs to be ...