CEO of Hapag-Lloyd to arrive in Israel tomorrow to advance with Fimi a new proposal to acquire Zim

The CEO of German Hapag-Lloyd will arrive in Israel tomorrow to formulate a new proposal to acquire Zim for $4.2 billion. The proposal will be submitted on Sunday and will include substantial amendments to overcome concerns of the Government Companies Authority, the Shipping Authority, and the Ministry of Defense. The opposition stems from reducing Zim's access routes to international shipping lanes and Zim Israel's limited financial strength.

The CEO of the German shipping company Hapag-Lloyd, Rolf Habben Jansen, will arrive in Israel tomorrow (Wednesday) to formulate with the Fimi fund a new proposal to acquire Zim. The proposal, which was reported by Calcalist, will be submitted on Sunday and will include substantial amendments aimed at overcoming the opposition of six out of eight government bodies that are supposed to approve the transfer of the golden share in the deal. Among the opponents: the Government Companies Authority, the Shipping Authority, and the Ministry of Defense. The opposition stems from two main issues: the concern that the deal will reduce Zim's access routes to major international shipping lanes, and the concern that Zim Israel, which will be held by Fimi, will be small with limited financial strength. Zim has 130 ships and 55 lines. The state wants at least six lines, and even ten, with at least one line to the Far East being essential for maintaining shipping capability in times of regional crisis. The three lines on which there is no agreement are to Greece and the USA.