Germany-based container shipping firm Hapag-Lloyd said its management board is in advanced negotiations over a potential acquisition of all shares in Israeli rival ZIM Integrated Shipping Services.
In a disclosure of inside information on Sunday, the company said no binding agreements have been entered into and multiple approvals would be required before any transaction could proceed.
These include approvals from Hapag-Lloyd’s management and supervisory boards, the relevant corporate bodies of counterparties, and the consent of the State of Israel under special rights set out in ZIM’s articles of association.
Talks with Israeli financial investor FIMI Opportunity Funds regarding the assumption of obligations tied to those special rights are said to be well advanced.
Any deal would also be subject to further regulatory approvals and the consent of ZIM shareholders
