Israel voices concerns over shipping firm ZIM’s ownership shift

The Israeli government has expressed concern over the upcoming sale of shipping company ZIM to German carrier Hapag-Lloyd in partnership with Israeli investment fund FIMI. 

The deal is valued at approximately $3.7 billion, with particular focus on the state’s “golden share,” which grants the government special powers over strategic matters, Caliber.Az reports per foreign media.

The mechanism is designed to ensure the company operates in the national economic interest during emergencies. Transport Minister Miri Regev instructed the ministry’s director-general, Moshe Ben-Zaken, to immediately review the agreement’s terms and assess potential consequences. 

Under the proposed plan, routes connected to Israel would be managed by FIMI, while international lines would be sold to Hapag-Lloyd.

According to Israeli media, the deal caught the shipping authority and Transport Ministry by surprise. The government is considering using the golden share to intervene in the process. The German side reportedly structured the deal to minimise potential Israeli veto powers.

Possible challenges could also arise from the European Commission, as Hapag-Lloyd ranks fifth among the world’s largest shipping companies, and acquiring nearly 100 ZIM routes may trigger competition and antitrust concerns within the EU.

By Jeyhun Aghazada