Israel Finance Ministry Objects to $4.2bn ZIM Sale to Hapag-Lloyd
Israel’s Finance Ministry is blocking the proposed $4.2bn sale of ZIM to Hapag-Lloyd over security concerns linked to Saudi and Qatari stakes; Hapag-Lloyd and FIMI have offered safeguards, but any revised deal needs fresh approval.
ZIMHLAG
Israel’s Finance Ministry has objected to the planned $4.2 billion sale of ZIM to German shipping group Hapag-Lloyd, citing security concerns over Saudi Arabian and Qatari ownership interests in the company.
In response, Hapag-Lloyd and FIMI have proposed a direct Far East route, a commitment of at least 16 vessels for ZIM Israel, and stronger ownership safeguards to address the concerns.
Any revised transaction would require a new approval application.
Source: First Squawk