Israel’s shipping company ZIM Integrated Shipping Services will be sold to Germany’s Hapag-Lloyd and Israel’s FIMI Opportunity Funds in a deal estimated at approximately $3.7 billion.
Israel holds a “golden share" in the company, which will remain in its possession as part of the transaction. The share is intended to ensure that the national economy can rely on the company’s services during emergencies. This arrangement is similar to the mechanism in place with El Al, granting the state special rights on key matters related to the national interest.
Hapag-Lloyd is considered one of the largest shipping companies in the world. Among its shareholders are the Qatar Investment Authority, which holds about 12.3% of the company’s shares, and Saudi Arabia’s sovereign wealth fund, which holds approximately 10.2%.
Completion of the deal is subject to the required regulatory approvals. Once finalized, control of ZIM will transfer to the acquiring parties, subject to the preservation of the state’s rights.