The younger of the wealthy Ofer brothers, died in Herzliya, Israel, earlier this month at the age of 87. His elder brother Sammy died in June. The brothers started out by taking over a ship supply company set up by their father, Joseph Herscovic. In 1956 they opened ship agency Mediterranean Seaways, which led to a move into ship management and ownership. The brothers then created an empire that included shipping line Zim. In 2002 they separated their assets: Yuli's stake in Israel Corporation was transferred to Sammy in return for the tatter's assets in property and Mizrahi Bank.
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