Hapag-Lloyd and FIMI said they plan to revise and soon submit their acquisition proposal for ZIM. A 30-day period has been set to address the Israeli government's concerns.
Hapag-Lloyd and Israeli private equity firm FIMI are preparing to submit a revised proposal for the $4.2 billion acquisition of ZIM. The revised proposal will include structural adjustments to address the Israeli government's concerns, and a 30-day period has been granted.
Government officials have questioned the preservation of access to international shipping routes after completion of the transaction and the organizational structure of ZIM Israel, while 6 of the 8 government agencies involved have expressed opposition. The requirement for government consent regarding the golden share is a major issue.
The revised plan is expected to include measures to strengthen restrictions on foreign ownership, enhance government oversight, and strengthen Israel's maritime capabilities.
The 30-day extension will give the two companies an opportunity to rework their proposal before the Israeli government's final decision.