ASHDOD — Israel’s Economy, Agriculture, and Transport ministries, alongside the Shipping and Ports Authority, are seeking to block the proposed $4.2 billion sale of ZIM to German shipping company Hapag-Lloyd and the FIMI fund. The deal, which was approved by ZIM shareholders at the end of April, would transfer ZIM’s international business to Hapag-Lloyd while placing its Israeli operations under the FIMI fund, led by Ishay Davidi.
The proposed acquisition price of $4.2 billion is approximately $1 billion above ZIM’s current market valuation on Wall Street. Israeli ministries have expressed serious reservations about the structure of the deal, arguing it would leave Israel with a diminished shipping presence. The Economy Ministry stated that the proposed arrangement “raises concerns that the framework would create a crippled company incapable of surviving independently from a business and operational standpoint.”
Ministry officials warned that the remaining Israeli entity would become “a tiny operational shell disconnected from the global logistics network.” They emphasized that ZIM currently transports roughly one-third of maritime food shipments entering Israel, underscoring its strategic role in national supply chains. Officials contend the proposal would create a smaller local carrier designed only to satisfy the state’s golden-share protections while substantially reducing operational capacity.
The Economy Ministry also raised national security concerns tied to Hapag-Lloyd’s ownership structure, noting that Qatar and Saudi Arabia hold interests in the German company. In a written statement, the ministry said, “The assumption that the State of Israel could rely during a national emergency on a shipping company whose significant shareholders include countries with interests that are opposed or hostile to Israel is completely detached from strategic reality.” The ministry warned that “during a security crisis, when foreign companies may reduce their activity in Israeli ports, the state could find itself struggling to import essential raw materials for industry, basic consumer goods, and other products transported by sea.”