Container shipping: Hapag-Lloyd relies on ZIM takeover despite Israeli veto
Why does Hapag-Lloyd believe in the ZIM takeover despite resistance from Israel? Intensive talks are taking place behind the scenes - and it's about around €3.6 billion.
Hapag-Lloyd is pushing forward with its plan to acquire Israeli shipping company ZIM despite resistance from the Israeli government. The deal, worth around 3.6 billion euros, would see Hapag-Lloyd take over ZIM's shares and expand its fleet to over 400 ships. Hapag-Lloyd's CEO, Rolf Habben Jansen, believes the acquisition would be a improvement for Israel and is confident that he can address the concerns of the Israeli authorities.
The Israeli government has vetoed the deal due to Hapag-Lloyd's ownership structure, which includes Saudi Arabian and Qatari state funds holding 10.2% and 12.1% of the shares, respectively. Habben Jansen argues that these investors have no direct influence on the company's day-to-day operations.
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.
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- Shipping: Hapag-Lloyd relies on ZIM takeover despite Israeli veto handelsblatt.com
