Hapag-Lloyd bids for ZIM, faces worker opposition

According to Globes, Israel business news, international shipping giant Hapag-Lloyd has made an initial offer to acquire Zim Integrated Shipping Services. Negotiations have not yet started. Other potential buyers, including MSC and Maersk, have also expressed interest.

ZIM, ranked ninth globally with a 2.5% market share, is currently valued at $2.4 billion. The bid follows former controlling shareholder Kenon Holdings selling its stake and ZIM CEO Eli Glickman submitting a buyout proposal with shipping magnate Rami Ungar.

ZIM’s workers committee strongly opposes a sale to Hapag-Lloyd, citing national security concerns. Chairperson Oren Ksafim warned that foreign ownership by Qatari and Saudi investors could jeopardize Israel’s maritime supply in future conflicts. The committee urged the government to invoke the state’s golden share to block the deal.

ZIM’s stock closed at $19.87, higher than analysts’ target of $14.30, with mixed ratings from seven analysts: one “Buy,” three “Hold,” and three “Sell.”

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