Hapag-Lloyd has signed an agreement with ZIM Integrated Shipping Services Ltd., currently ranked as the world's 10th largest container shipping line, to acquire 100 per cent of ZIM's shares for US$35.00 per share in cash. The total transaction value exceeds US$4 billion.
Under the agreement, FIMI Opportunity Funds will acquire a carved-out container liner business that will operate selected strategic trade lanes and connect to Hapag-Lloyd's global network. The new Israeli container line will begin operations with 16 vessels and assume responsibility for ZIM's Golden Share, currently held by the State of Israel, as well as the ZIM brand.
Completion of the transaction is subject to approval by ZIM shareholders and relevant regulatory authorities. Approvals are expected by late 2026.
© Hapag-Lloyd
Following the merger, the combined company would rank as the fifth-largest container shipping line globally. The fleet would comprise more than 400 vessels, with a standing capacity exceeding 3 million TEU and an annual transport volume of more than 18 million TEU. The transaction is projected to generate annual synergies of several hundred million US dollars.
"ZIM is an excellent partner for Hapag-Lloyd", said Rolf Habben Jansen, CEO of Hapag-Lloyd. "Customers will benefit from a significantly strengthened network on the Transpacific, Intra Asia, Atlantic, Latin America, and East Mediterranean. We share the same ambitions: great customer service, outstanding operational quality, and a commitment to digital innovation – all powered by the expertise and passion of our people worldwide. We will use this opportunity to create the best team from the exceptional talent in ZIM and Hapag-Lloyd – in Israel and around the globe – and we commit ourselves to building a very substantial and long-term presence in Israel. Together, we will set new benchmarks of excellence and secure our position as the undisputed number one for quality in our industry."
Yair Seroussi, Chairman of ZIM's Board of Directors, said: "Today's announcement is the culmination of a thorough strategic review conducted by ZIM's Board of Directors dedicated to maximizing shareholder value. The decision reflects a comprehensive evaluation of all available options to ensure the best possible outcome for the company's investors. We believe that it represents the most prudent and beneficial transaction for all ZIM stakeholders that further advances the tremendous value creation track record that we have established since our IPO."
Ishay Davidi, Founder and CEO of the FIMI Funds, stated that FIMI intends to establish a stable Israeli container line that will maintain operations across transatlantic routes and additional services to Europe, Africa, the Mediterranean Sea, and the Black Sea.
Until the transaction closes, Hapag-Lloyd and ZIM will continue to operate independently and remain competitors. Operational cooperation will remain limited to existing vessel sharing and slot charter agreements.
© Hapag-LloydFor more information:
Alexander Drews
Hapag-Lloyd
Tel: +49 40 3001 3705
Email: [email protected]
www.hapag-lloyd.com
