Merger creates fifth largest container fleet
Modern container fleet of over 400 vessels
INTERNATIONAL NEWS: The announced agreement between Hapag-Lloyd and ZIM Integrated Shipping Services Ltd to integrate under the Hapag-Lloyd brand will secure the company as the fifth-largest container shipping company worldwide with a modern fleet of over 400 vessels, a standing capacity of over three million TEU, and an annual transport volume of more than 18 million TEU.
Today, Hapag-Lloyd signed an agreement with ZIM Integrated Shipping Services Ltd, the world’s 10th largest container shipping line, under which Hapag-Lloyd will acquire 100% of ZIM’s shares for a consideration of US$ 35.00 per share in cash. The total transaction value amounts to over USD 4 billion.
FIMI, Israel's largest private equity fund, will take ownership of a carved-out container liner business that will serve some of the most important strategic trade-lanes, to maintain maritime connectivity for the State of Israel.
The new container line will start with 16 modern, sizeable, and efficient vessels and take over full responsibility for ZIM’s Golden Share as well as the ZIM brand.
The completion of the envisaged transactions is subject, among others, to approval by ZIM's shareholders and the relevant regulatory authorities.
Hapag-Lloyd and ZIM will leverage the highly skilled workforce and cutting-edge technologies of both companies to build an even stronger combined team that will remain very customer centric, focused on profitable growth and delivering superior quality to customers around the globe.
“ZIM is an excellent partner for Hapag-Lloyd”, said Rolf Habben Jansen, CEO of Hapag-Lloyd. “Customers will benefit from a significantly strengthened network on the Transpacific, Intra Asia, Atlantic, Latin America and East Mediterranean.”
“Today’s announcement is the culmination of a thorough strategic review conducted by ZIM’s Board of Directors dedicated to maximising shareholder value. The decision reflects a comprehensive evaluation of all available options to ensure the best possible outcome for the company's investors,” said Yair Seroussi, Chairman of ZIM's Board of Directors.
“FIMI recognises and believes in the strategic importance for the State of Israel of a strong independent Israeli shipping company. We will create a stable Israeli company, the new ZIM, and view Hapag-Lloyd as a significant strategic partner for its on-going operations. New ZIM will integrate significant transatlantic capabilities, alongside additional shipping routes to Europe, Africa, the Mediterranean Sea and the Black Sea, supported by advanced global maritime transport capabilities, while continuing to place the customer at the centre of its operations,” confirms Ishay Davidi, Founder and CEO of the FIMI Funds.
Until the closing of the transaction, Hapag-Lloyd and ZIM will remain competitors and do “business as usual”. Their operational collaboration will stay limited to existing vessel sharing and slot charter agreements. The necessary approvals of regulatory authorities and ZIM shareholders are expected by late 2026.
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