Hapag-Lloyd signed a merger agreement on 16 February to acquire Haifa-based ZIM Integrated Shipping Services for US$35.00 per share in cash, valuing the NYSE-listed container line's equity at about US$4.2bn.
Why Hapag-Lloyd AG is buying ZIM Integrated Shipping Services Ltd.
ZIM said the combination would give Hapag-Lloyd a fleet of more than 400 vessels with capacity above 3m TEU and make it the world's fifth-largest container shipping company, while ZIM's customers would gain access to the Gemini network.
“We believe this represents the most prudent and beneficial transaction for all ZIM stakeholders.”
Deal terms and financing
The all-cash price is a 58% premium to ZIM's close on 13 February 2026, 90% to its 90-day volume-weighted average and 126% to its unaffected price of US$15.50 on 8 August 2025. Under a binding memorandum of understanding, FIMI Opportunity Funds will set up an Israel-incorporated liner, New ZIM, starting with 16 vessels and the ZIM trademark, which is intended to take over the State of Israel's Special State Share. ZIM's board approved the deal unanimously.
Regulatory approvals and timing
Completion requires regulatory approvals and the consent of the State of Israel under the Special State Share. ZIM shareholders approved the merger on 30 April 2026 with 97.36% in favour (Calcalist). FreightWaves reported on 5 October 2026 that Israel's Government Companies Authority had ended its review of the original structure after objections from the Finance Ministry, so a materially revised Hapag-Lloyd/FIMI plan must go through a new review; the companies still target closing in late 2026, while a holder of more than 10% of ZIM shares has called for a fresh vote.
Market context
ZIM listed in New York in 2021 at a valuation of about US$1.5bn and has no controlling shareholder, so the sale values it at roughly three times its IPO price (Calcalist). It is expected to be delisted from the NYSE on completion.
