Zim shareholders approve $4.2 billion sale to Hapag-Lloyd

Shareholders of ZIM Integrated Shipping Services have approved the company’s sale to Hapag-Lloyd in a $4.2 billion deal, according to Calcalist.

The transaction received 97.36% approval, clearing a major hurdle. It still requires regulatory approvals before completion.

Deal structure

Hapag-Lloyd and its partners will acquire 100% of Zim’s shares for $35 per share in cash.

The agreement values the company at approximately $4.2 billion.

Zim is expected to be delisted from the New York Stock Exchange once the deal closes.

Israeli operations to remain

As part of the deal, Zim’s local operations will transfer to ownership by the FIMI Opportunity Funds.

This structure aims to maintain Israel’s maritime presence and ensure continuity of trade and operations.

Board backs transaction

Chairman Yair Seroussi said the vote reflects strong shareholder confidence in the deal and the process behind it.

He added that the board will continue to act in the interest of stakeholders until completion.

Labor tensions continue

The approval comes amid recent labor disputes.

Around 900 employees staged a strike over employment terms linked to the ownership change.

Following negotiations, workers returned under a partial strike arrangement, with operations continuing without disruption.

Discussions between unions, Zim, Hapag-Lloyd, and FIMI are ongoing, particularly over job security and potential early retirement plans.

Major milestone for Zim

The deal marks a significant shift for Zim, which went public in 2021 at a valuation of $1.5 billion.

The current transaction values the company at nearly three times that level, highlighting strong growth over recent years.

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