After a week of leaks in domestic media, the Israeli owner said a refinancing agreement had been reached with a majority of creditors.
It paves the way for more cooperation with other owners and puts its long-mooted IPO back on track.
Of its $1.82bn in bank loans, $907m remains and will be considered as guaranteed debt for which Zim will sign new loan agreements with the same banks.
Former parent Israel Corp, controlled by Idan Ofer, will plough in new capital of $200m, while seeing its shareholding cut to 32%.
It will remain the biggest investor, but will also write off debt of $225m owed by Zim.
But bondholders, overseas banks and shipowners will be awarded stakes too, controlling the remaining 68% and enabling Zim...
