The sale of Israeli shipping company ZIM is entering its final stages, with binding acquisition offers submitted late last week, Calcalist reports. ZIM, listed on the New York Stock Exchange and currently without a controlling shareholder, now has two confirmed bidders, with a potential third expected to join in the coming week.
Sources indicate that the two frontrunners are Germany's Hapag-Lloyd, the world's fifth-largest shipping company with a market capitalization of around $24 billion, and Denmark's Maersk, the world's second-largest, valued at approximately $34 billion. These details have not yet been officially confirmed. Bids from ZIM CEO Eli Glickman, five company vice presidents, and car importer Rami Ungar did not advance, and MSC denied submitting a bid.
ZIM's board, chaired by Yair Seroussi, appointed investment bank Evercore to manage the sale, which has now reached an advanced phase after extensive bid screening. Financial terms of the offers remain undisclosed, and Evercore must decide whether to proceed with parallel negotiations or a competitive bidding process.
Meanwhile, the company's workers' union is actively opposing the sale. Union chairman Oren Caspi has met with government officials, including the Transportation Minister and Knesset committee members, to explore using the state's "golden share" to block foreign ownership, reflecting potential political and labor hurdles ahead.'
Source: www.calcalistech.com
