Zim offloading China box manufacturing stakes

Israel’s Zim Integrated Shipping Services is offloading stakes in Chinese container manufacturing as it focuses more on its core liner business.
Zim said it would net $31.5m from the sales if they go ahead as planned.
“There is no certainty that the agreements to sell the holdings of Zim in the container companies will be signed, and if signed, there is no certainty as to their closing,” Israel Corp, Zim’s parent, said in a statement.
Zim is selling its 55% stake in CXIC Star Container, as well as a 25% stake in a CXIC factory.
Source: Sino Ship News