German Bid for Zim With Saudi, Qatari Backing Raises Israel Security Concerns By The Media Line Staff A bid for Zim has become the central issue in the company’s strategic review, after Hapag-Lloyd, the German carrier, signaled interest in acquiring the Israeli carrier, Globes reports. About 35 percent of Hapag-Lloyd is owned by Saudi Arabian and Qatari investors, placing the potential […]
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The Media Line: German Bid for Zim With Saudi, Qatari Backing Raises Israel Security Concerns
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German Bid for Zim With Saudi, Qatari Backing Raises Israel Security Concerns
By The Media Line Staff
A bid for Zim has become the central issue in the company’s strategic review, after Hapag-Lloyd, the German carrier, signaled interest in acquiring the Israeli carrier, Globes reports. About 35 percent of Hapag-Lloyd is owned by Saudi Arabian and Qatari investors, placing the potential offer under immediate scrutiny in Israel.
Zim’s Employees wrote to Israel’s transport minister on Wednesday, urging the government to prevent any deal involving Hapag-Lloyd over security concerns. They cited Zim’s role in maintaining food, medical, and military deliveries during the Swords of Iron war and noted that 98 percent of Israel’s trade by weight moves by sea. Because the state holds a golden share, any foreign takeover requires government approval.
Zim confirmed that multiple parties have submitted proposals but has not released names or valuation details. The company’s board, led by chairman Yair Seroussi, rejected an earlier $25-per-share offer from CEO Eli Glickman and businessman Rami Ungar and began a broader search with Evercore advising. Another global shipping company has since held discussions about a separate proposal.
With no controlling shareholder and interest coming from multiple bidders, the review is continuing without a stated timeline. Zim has said it will release no further information until a decision is made.
Founded in Haifa in 1945, Zim began as a state-backed carrier moving immigrants and cargo to and from the newly established State of Israel. The company expanded into global container shipping over several decades, underwent privatization and restructuring, and listed on the New York Stock Exchange in 2021. It remains one of Israel’s most prominent commercial shipping operators.