(Adds Zim capital gain)
HONG KONG, Nov 7 (Reuters) - China Merchants Holdings International has agreed to form a joint venture that will buy a 47.5 percent stake in a container-terminal operator in Nigeria from Israel's Zim Integrated Shipping for $154 million.
China Merchants will own 60 percent of the venture, with China-Africa Development Fund (CADF) taking a 40 percent stake after obtaining approval from Chinese regulators, the Chinese port operator said in a statement.
China Development Bank owns CADF, a fund which supports Chinese enterprises in their investment in Africa.
Zim will record a pretax gain of $120 million from the sale, its parent company, Israel Corp, said. Israel Corp shares were up 3.0 percent in morning trade in Tel Aviv.
(Additional reporting by Tova Cohen in Tel Aviv)
(Reporting by Leonora Walet; Editing by Alex Richardson and Erica Billingham)