ZIM provides update on ongoing strategic review process

ZIM has issued an update on its ongoing strategic review, reaffirming that the company’s Board of Directors remains focused on maximizing value for all shareholders.

The review began after the Board received a preliminary, non-binding proposal from Eli Glickman, ZIM’s Chief Executive Officer and President, and Rami Ungar, to acquire all outstanding ordinary shares of the company. In response, the Board initiated a formal assessment of strategic alternatives and appointed Evercore as financial advisor, with Meitar Law Offices and Skadden, Arps, Slate, Meagher & Flom LLP serving as legal counsel.

According to ZIM, the process has been underway for several months and includes the evaluation of a wide range of potential value-creation avenues. These include a possible sale of the company, as well as capital allocation and return strategies. The Board has also received indications of interest from multiple parties, including strategic investors, which it is now reviewing.

The company emphasized that there is no guarantee the review will result in any transaction. ZIM does not intend to provide further updates until an agreement is reached or the review concludes.

As part of its governance enhancements, ZIM’s Board has recently appointed two independent directors, Yair Avidan and Dr. Yoram Turbowicz. The company noted that their expertise adds to the Board’s financial and transactional capabilities as it continues to assess options aimed at creating shareholder value.

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