Hapag-Lloyd, FIMI submit revised offer for ZIM
Hapag-Lloyd and FIMI submitted an improved offer for ZIM to the Israeli government, addressing security concerns and bolstering ZIM Israel's independence, but the price remains unchanged at a $4.2 billion valuation. The revised offer includes stronger terms for the government's golden share and ensures Israeli management of ships, though ZIM workers oppose the deal.
Hapag-Lloyd and its Israeli partner FIMI submitted the main points of their improved offer for ZIM to the Israeli government today. The revised offer addresses security concerns raised in discussions with Israeli authorities but does not change the price: a $4.2 billion valuation ($35 per share). ZIM's current NYSE share price is $29.53. The core of the offer is the establishment of 'ZIM Israel' as a completely independent Israeli shipping company under Israeli ownership and management, effectively a spin-off from ZIM's international operations meant to provide a solution for the Israeli economy in wartime. The revised offer includes stronger terms for the Israeli government's golden share, preventing foreign involvement, and ensures management of ships remains in Israeli hands. ZIM Israel will maintain a core fleet of container vessels and receive access to Hapag-Lloyd's global fleet under a long-term commercial agreement. The companies also undertook to expand the number of Israeli seamen. The deal was supposed to close by year-end but may be delayed due to the election period, with a possible extension to mid-2027. ZIM workers sent a letter to the government reiterating their opposition to the deal.