ZIM Confirms $4.2bn Sale to Hapag-Lloyd

ZIM Integrated Shipping Services, listed in New York, has detailed the terms of its agreed acquisition, confirming that shareholders will receive $35 per share in cash under a merger that values the company at approximately $4.2bn.

The offer represents a 58% premium to ZIM’s closing share price on February 13, 2026, a 90% premium to its 90-day volume-weighted average price, and a 126% premium to its unaffected share price of $15.50 in August 2025, prior to market speculation about a potential takeover.

Under the agreement, Germany’s Hapag-Lloyd will acquire all of ZIM’s outstanding shares. The transaction is expected to be finalized by late 2026, subject to regulatory clearances and shareholder approval.

ZIM said the combination will enhance service coverage across major trades, including the transpacific, intra-Asia, Atlantic, Latin America, and East Mediterranean routes. Together, the two companies will operate more than 400 vessels, with total capacity exceeding 3m teu and anticipated annual volumes above 18m teu by 2027.

Customers are expected to benefit from a broader port network and access to the Gemini cooperation platform. For Hapag-Lloyd, the deal reinforces its position as the world’s fifth-largest container carrier.

A key component of the transaction involves the establishment of a new Israeli carrier, “New ZIM”, to be created by Tel Aviv-based private equity firm FIMI Opportunity Funds.

This entity will operate 16 vessels dedicated to Israel’s core trade lanes, providing direct links between Israel and ports in Europe, the United States, the Mediterranean, and the Black Sea. It will continue to operate under the ZIM brand and receive commercial backing from Hapag-Lloyd, including access to the Gemini network.

The Special State Share currently held by the State of Israel in ZIM is expected to be transferred to a FIMI subsidiary, pending government approval. The objective is to ensure the continuity of secure liner services to and from Israel.

Hapag-Lloyd has stated that it intends to maintain a substantial presence in Israel and retain ZIM’s workforce once the deal is completed.

Chief executive Eli Glickman said the agreement follows several years of restructuring and fleet modernization. Since 2017, ZIM has transitioned from negative equity to consistent profitability and has returned $5.7bn in dividends since its 2021 IPO. Upon completion of the merger, total capital returned to shareholders is projected to reach approximately $10bn.

In recent years, ZIM has taken delivery of 46 new container ships ranging from 5,300 teu to 15,000 teu, with roughly 40% of its operated fleet powered by LNG. The company has also invested over $1bn in container equipment since 2021, expanded into the car carrier segment, and secured LNG supply agreements.

Chairman Yair Seroussi described the deal as the result of a comprehensive strategic review and competitive process aimed at maximizing shareholder value while protecting national shipping interests.

Until the transaction is finalized, ZIM and Hapag-Lloyd will continue operating independently. If approved, the merger will rank among the largest liner shipping deals in recent years and further consolidate capacity among the world’s leading container carriers.