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Hapag-Lloyd confirms advanced negotiations to acquire ZIM Integrated Shipping Services
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No binding agreement signed yet
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Board and regulatory approvals pending Israel’s consent is required under ZIM’s “golden share” provisions
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Talks also ongoing with FIMI Opportunity Funds on special rights obligations
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Report values potential deal at over $3.5 billion
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May lead to Zim’s delisting from New York Stock Exchange
Hapag-Lloyd is now in advanced negotiations to acquire all of ZIM Integrated Shipping Services Ltd.’s shares, signaling a potential $3.5-billion consolidation in the global container shipping sector.
In an ad hoc disclosure issued February 15, the German carrier’s management board confirmed discussions regarding a possible takeover of its Haifa-based competitor, but said “no binding agreements have been entered into.”
The transaction remains subject to multiple approvals, including those of Hapag-Lloyd’s management and supervisory boards, as well as the relevant corporate bodies of the contractual counterparties, it said.
READ: Hapag-Lloyd interested to buy Israeli shipping firm ZIM
Consent from the State of Israel is also required under special rights provisions in ZIM’s articles of association. In this regard, Hapag-Lloyd said that negotiations with FIMI Opportunity Funds regarding the assumption of obligations associated with those special rights are well advanced.
Completion of the transaction would also require regulatory clearances and approval from ZIM’s shareholders.
Israeli financial daily Calcalist reported that Hapag-Lloyd prevailed in a six-month tender process and agreed to acquire ZIM together with FIMI, Israel’s largest private equity fund. The report valued the deal at more than $3.5 billion, with the partners planning to purchase 100% of ZIM.
If completed, the acquisition would result in ZIM’s delisting from the New York Stock Exchange, where it has traded since its 2021 initial public offering.
Calcalist said Hapag-Lloyd and FIMI intend to divide ZIM’s global and strategic assets to comply with the Israeli government’s “golden share” requirements.
Founded in 1945, ZIM operates in more than 90 countries and serves roughly 33,000 customers across over 300 ports worldwide.
Hapag-Lloyd is a worldwide liner shipping firm headquartered in Hamburg, Germany, and is among the leading ocean carriers in Transatlantic, Middle East, and Latin America routes. It owns a fleet of more than 300 modern vessels with a capacity of 2.5 million TEU and operates over 130 liner services linking more than 600 ports globally.
