Editor’s note (18 December 2025): Subsequent reporting indicates that MSC is publicly distancing itself from takeover speculation around ZIM. The article has been updated to reflect the latest developments
Sources cited by Israeli media had described MSC as the strongest candidate for three main reasons. First, MSC is fully controlled by the Aponte family, with no links to countries that have strained diplomatic relations with Israel. Second, MSC and ZIM already cooperate operationally, including slot-sharing arrangements on trans-Pacific routes. Third, MSC’s financial position was considered robust enough to support a full acquisition, even amid weaker freight markets.
By contrast, Hapag-Lloyd’s shareholder structure has become a central issue in Israel. The German carrier counts Qatar Holding and Saudi Arabia’s Public Investment Fund among its major investors — a factor that has raised objections both within ZIM and at the government level.
This has happened so far: Global carriers launch battle for Israel’s major container line
Workers and government push back
ZIM’s workers’ committee has reiterated its opposition to a takeover by Hapag-Lloyd, warning that foreign ownership linked to Arab sovereign funds could undermine Israel’s strategic interests. The issue was raised directly with Transport Minister Miri Regev during a recent meeting with union representatives.
At the centre of the debate is the Israeli government’s “golden share”, introduced when ZIM was privatised in 2004. This gives the state veto rights over any acquisition exceeding 24% of the company. The rules also require that ZIM’s board remains majority-Israeli, its CEO and chair hold Israeli citizenship, and at least eleven container vessels remain available to the government in national emergencies.
Sale process becomes more formal
ZIM’s board has now appointed Evercore as financial adviser to run a structured sale process, following the rejection of a management-led bid by CEO Eli Glickman and shipping entrepreneur Rami Ungar. Evercore has been tasked with evaluating offers and managing negotiations with potential buyers.
At the same time, internal pressure is mounting. A group of Israeli shareholders holding around 8% of ZIM’s capital has proposed replacing several board members, adding another layer of uncertainty to the process.
Against this backdrop, ZIM has postponed its annual general meeting to 26 December 2025, with changes to the agenda reflecting the ongoing takeover discussions. The board has said it will not provide further updates until either an agreement is reached or the review process concludes.
MSC plays down takeover speculation
Update (18 December 2025):
MSC has since publicly distanced itself from reports suggesting it is seeking to acquire ZIM. According to ShippingWatch, analysts say the world’s largest container carrier is reluctant to become involved in a complex takeover process and prefers to “remain in control of its own destiny”.
They argue that while MSC has the financial capacity to pursue an acquisition, the political, regulatory and governance constraints attached to ZIM — including Israel’s golden share, board composition rules and national security obligations — may reduce the strategic appeal of a deal.
Neither MSC nor ZIM has confirmed that formal negotiations are under way.
A strategic asset under scrutiny
Unlike previous takeover speculation, the current phase is unfolding under unusually close political oversight. ZIM is widely regarded in Israel as a strategic asset, not just a commercial shipping line, due to its role in maintaining supply chains during periods of conflict.
With the takeover process still unfolding and bidders yet to confirm their intentions, the future ownership of Israel’s largest container carrier remains uncertain. Political oversight, worker opposition and the government’s veto powers are expected to play a decisive role in determining whether ZIM changes hands — and on what terms.
