Shipping: Hapag-Lloyd to refute criticism from Israel over ZIM takeover
Hapag-Lloyd had announced in February it would acquire ZIM Integrated Shipping Services. A revised proposal now secures Israel's access to key shipping routes.
Hapag-Lloyd has made concessions in its planned $4.2 billion takeover of Israeli shipping company ZIM following concerns from Israel. The company said it will work with the Israeli government to secure approval for the deal, which aims to strengthen Israel's maritime security and independence. The revised proposal includes a "golden share" that gives Israel special ownership rights in ZIM and reduces the threshold for reporting sales of ZIM shares to Israeli authorities.
The deal, expected to be presented to the Israeli cabinet this month, has faced opposition from ZIM employees, Defence Minister Israel Katz, and other government officials.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
