Hapag-Lloyd CEO to Visit Israel for New Zim Acquisition Proposal

Rolf Habben-Jansen, CEO of the German shipping company Hapag-Lloyd, is scheduled to arrive in Israel on Tuesday to finalize a new proposal for the acquisition of Israel Corporation's shipping company, Zim Integrated Shipping Services. The goal is to present an offer that addresses the Israeli government's concerns and secures its approval for the $4.2 billion deal, under which Hapag-Lloyd and the Israeli sovereign wealth fund FIMI would jointly purchase all of Zim's shares.

The revised offer, expected to be submitted on Sunday, reportedly includes significant amendments aimed at overcoming objections from the Government Companies Authority and other bodies, including the Ministry of Defense. Key concerns revolve around the potential reduction of Zim's access to major international shipping routes and the limited financial stability of Zim Israel, which is intended to operate as a separate entity under FIMI's control.

Zim operates 130 vessels and 55 shipping lines. While the state has no objections to the 16 vessels slated for transfer to Zim Israel, the primary sticking point for the government involves three specific shipping lines: two to Greece and one to the United States. The state is advocating for Zim to retain at least six, and ideally ten, shipping lines, including at least one to the Far East, to ensure its global operational capacity during regional crises.