In a statement published on 15 February 2026, Hapag-Lloyd said the transaction would need approvals from its Management Board and Supervisory Board, as well as from ZIM’s corporate bodies. It added that further regulatory approvals and the consent of ZIM’s shareholders’ meeting would also be needed.
Hapag-Lloyd underlined that the deal cannot proceed without the consent of the State of Israel, based on the special rights set out in ZIM’s articles of association, widely referred to as the government’s “golden share” mechanism.
Israeli and industry media report that the transaction is being structured to satisfy these state requirements, with Israel-based private equity group FIMI Opportunity Funds taking on obligations linked to the golden share. Hapag-Lloyd said negotiations with FIMI on this element are “well advanced”.
Reported split: strategic assets to FIMI, chartered fleet focus for Hapag-Lloyd
According to reporting by Israeli financial media cited by Calcalist Tech, the planned structure would divide assets, with FIMI taking control of assets considered of strategic national interest, while Hapag-Lloyd would concentrate on ZIM’s international activity.
Splash247 reports that Hapag-Lloyd would focus on the chartered fleet, which it says accounts for around 611,000 teu, or about 87% of ZIM’s operated capacity, based on Alphaliner data, noting these specifics have not been formally confirmed by Hapag-Lloyd.
Container shipping analyst Lars Jensen echoed the same caution on LinkedIn, noting that while Hapag-Lloyd has confirmed advanced negotiations, the deal mechanics and approvals mean “realistically this will only come into place in 2027.”
Jensen also highlighted the competitive impact in the Pacific, arguing that ZIM’s current transpacific cooperation could shift under Hapag-Lloyd control, and that absorbing a largely chartered fleet would push Hapag-Lloyd’s charter exposure materially higher.
Market reporting has circulated figures above $3.5bn and up to around $3.7bn, but Hapag-Lloyd’s statement did not disclose valuation or terms
A sale with national-security strings attached
The talks follow months of takeover speculation around ZIM. In early December 2025, Israeli outlet Globes reported that Hapag-Lloyd had made an initial offer for Israel’s largest container line, with MSC and Maersk also said to be showing interest.
At the time, ZIM’s workers’ committee publicly opposed a sale to the German carrier, arguing that Hapag-Lloyd’s shareholder base — including Qatar Holding and Saudi Arabia’s Public Investment Fund — raised national security concerns. Union representatives urged the Israeli government to intervene using its “golden share”, which gives the state veto powers over certain ownership changes.
By mid-December, political and governance constraints had moved to the centre of the process. Trans.info reported that Israel’s golden share, introduced when ZIM was privatised in 2004, gives the state veto rights over acquisitions exceeding 24% and includes requirements linked to board composition and vessel availability in emergencies.
As the sale became more formal, ZIM appointed Evercore as financial adviser to run a structured process after the board rejected a management-led bid involving CEO Eli Glickman and shipping entrepreneur Rami Ungar.
