Shipping company Hapag-Lloyd and its Israeli partner private equity firm FIMI Opportunity Funds submitted the main points of their improved offer for Zim Integrated Shipping Services (NYSE: ZIM) to the Israeli government today. The revised offer improves elements of the deal, but does not change the price. Hapag-Lloyd and FIMI seek to acquire ZIM at a valuation of $4.2 billion ($35 per share). ZIM’s share price on the New York Stock Exchange is currently $29.53.
According to the announcement, the revised offer provides a solution to the problems that were raised in discussions with the authorities in Israel, with an emphasis on security issues, and is designed "to strengthen Israel’s maritime independence, its national security, and the reliability of its supply chain."
Hapag-Lloyd and FIMI said that they would complete the formulation of the business plan and the full legal framework within the next 45 days. Hapag-Lloyd and FIMI’s managers propose holding meetings during this period with the relevant Israeli authorities and government ministries to present the improvements in the offer and to discuss the details of the revised deal.
The core of the offer is the establishment of "ZIM Israel" as a completely independent Israeli shipping company, under Israeli ownership and management. This amounts to a kind of spin-off from ZIM’s international operation, meant to provide a solution for the Israeli economy in wartime. According to the announcement, the strengthening of the proposal comes with a modern fleet of ships owned by ZIM Israel and in-house maritime expertise. The outstanding change is the operation of ships on routes to the Far East, together with the planned routes in the Atlantic and the Mediterranean.
Management of ships will remain in Israel
Under the proposal, stronger terms for the Israeli government’s golden share in ZIM will increase the state’s powers and its control over changes in ownership of ZIM Israel, and will prevent any foreign involvement. According to the companies, these provisions will ensure Israel’s control over ZIM Israel’s fleet, especially in emergencies.
The revised offer also states that agreed teams of ZIM workers who are responsible for cargo to and from Israel will transfer to ZIM Israel. Management of the ships will remain in Israeli hands, and ZIM’s existing ship management capabilities will be transferred to the new company. ZIM Israel will operate an independent IT system of its own, with no access for third parties, including Hapag-Lloyd itself.
ZIM Israel will maintain a core fleet of container vessels, and will receive access to Hapag-Lloyd’s global container vessel fleet under a long-term commercial agreement. According to the announcement, the available capacity for transporting refrigerated cargoes and other vital cargo will thus expand. Hapag-Lloyd and FIMI also undertook to expand the number of Israeli seamen in the coming years, with the aim of reversing the trend of contraction in the maritime workforce, and the offer includes arrangements for ZIM workers in Israel as well as financial incentives and a ten-year safety net for veteran employees.
"Hapag-Lloyd and FIMI listened carefully to the stance of the State of Israel, and formulated significant improvements to their offer," Hapag-Lloyd CEO Rolf Habben Jansen said. "Our joint aim is to set up a strong, financially sound, professional Israeli shipping company that will serve Israel’s needs both in normal times and in emergencies. The offer provides real solutions to the issues with which the State of Israel contends."
The announcement mentions that Hapag-Lloyd has kept up a weekly service to Israeli ports since October 7, 2023, even during periods of severe security disruptions.
The deal to acquire ZIM was supposed to close by the end of the year, but it may be that examination of the proposed improvements will delay completion, particularly as Israel is in an election period, but the timetable for completion can be extended until mid-2027.
Earlier today, ZIM’s workers sent a letter to the Israeli government reiterating their arguments against the deal.
Published by Globes, Israel business news - en.globes.co.il - on September 24, 2026.
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