ZIM shares jump as Hapag-Lloyd, FIMI plan revised proposal

M&A · Partnership
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ZIM Integrated Shipping shares jumped more than 6% in Tuesday's premarket trading after Hapag-Lloyd and FIMI said they are working on a revised proposal for the acquisition of ZIM following discussions with Israeli authorities. Hapag-Lloyd said it held several meetings with Israeli officials to revise structural elements of the proposed deal, and the updated proposal is expected to be submitted to Israel's cabinet later this month. The revised proposal aims to address concerns about Israel's maritime security and independence, including continued access to key shipping routes and protections for sensitive cargo. Under the original agreement signed in February, Hapag-Lloyd agreed to acquire ZIM for $35 per share in cash, representing an equity value of about $4.2 billion. Hapag-Lloyd said the deal would establish ZIM as a fully Israeli-controlled container shipping company owned by Israeli private equity fund FIMI, with a separate FIMI-backed business retaining the ZIM brand and operating 16 vessels on strategically important routes to Israel.

Impact on stocks 2

Industrials▲ · 2 stocks
Hapag Lloyd AG
HLAG
▲ PositiveCapitalrelevance

Hapag-Lloyd is advancing its revised acquisition proposal for ZIM after meetings with Israeli officials.

Off-coverage companies 1

FIMI Opportunity FundsPrivate▲ Positive
Capitalrelevance

FIMI is a partner in the revised proposal to acquire ZIM and would own the Israeli-controlled container shipping business.

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