Hapag-Lloyd in Talks to Buy Israel’s Zim

By Galit Altstein (Bloomberg) — Hapag-Lloyd AG is in advanced talks to acquire Israeli competitor Zim Integrated Shipping Services Ltd, the German company said on Sunday. 

Discussions with Israeli financial investor FIMI Opportunity Funds tied to the assumption of obligations under special rights by the state of Israel are also at an advanced stage, the Hamburg-based shipper said in a statement to the stock exchange. No binding agreements have been entered into as yet, it said.

The parties are expected to sign off on a deal as soon as this week after several months of negotiations that Zim held with potential buyers, said a person familiar with the details who requested anonymity discussing matters that haven’t yet been made public.

Once the necessary regulatory and government approvals come through, Zim will be delisted from the New York Stock Exchange, where it’s currently valued at $2.7 billion, the person said. The Israeli business daily Calcalist — which reported on the deal earlier on Sunday — said the sale price would exceed $3.5 billion.

Shutting Down

Following the reports, Zim’s workers’ union in Israel is shutting down activities at the company’s headquarters in Haifa, the company said. Management is in discussions with the union “to avoid any negative impact on the company’s ongoing operations,” it said, adding that it understands the employees’ stance and said their “best interests are at the forefront” of its considerations.

Hapag-Lloyd is ranked the world’s fifth largest cargo shipping company, according to data complied by Alphaliner and Container News, with a 7.4% market share. Zim is ranked ninth with 2.4%.

Haifa-based Zim operates 145 ships including 130 container vessels and 15 vehicle transport vessels, according to official reports. The company says it operates a “charter-intensive fleet model” or “asset-light” approach, meaning many of their vessels are leased rather than owned.

Hapag Lloyd will acquire Zim’s international activity — including dozens of shipping vehicles, many of them leased, and global shipping lines — while FIMI would take hold of 16 ships and all shipping routes that connect Israel to and from the US, the Mediterranean Sea and the Black Sea, the person said.

Strategic Asset

The Israeli government regards Zim as a strategic asset and thus holds a golden share in the company, granting it control over strategic matters, including ownership. That makes FIMI’s involvement critical to the deal, as relevant government ministries seeking to maintain open shipping lines to Israel in times of emergency — such as during war — will want to avoid full foreign ownership of Zim.

While Hapag-Lloyd counts Kuehne Holding AG and CSAV Germany Container as its major shareholders, Qatar Holding LLC, controlled by the Qatari royal family, and Public Investment Fund, controlled by Saudi Arabia’s crown prince, hold significant stakes. 

Israel has accused Qatar of supporting Gaza-based Hamas, designated a terror group by the US and many other countries. FIMI is separately bound to an Essential Interests Order by the Israeli government, which also grants it special oversight rights, for its stake in the defense manufacturer Ashot Ashkelon.

Zim had previously rejected a revised proposal from an entity owned by CEO Eli Glickman and Israeli businessman Rami Ungar, saying that “the proposal significantly undervalued the company.”

Zim and FIMI declined to comment on any of the details of the transaction, while Hapag-Lloyd declined to comment on details beyond its filing.

© 2026 Bloomberg L.P.

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