MSC and Hapag-Lloyd Compete for Israeli Carrier Zim

17.12.2025

Two global shipping majors, MSC and Hapag-Lloyd, are competing for the potential acquisition of Israeli container carrier Zim. The possible transaction is complicated by regulatory, corporate and political factors in Israel, according to Trasporto Europa.

Zim’s board of directors has rejected an initial buyout proposal from an internal investor group and appointed investment bank Evercore to run a structured sale process and evaluate incoming bids. Company management stated that it will not comment on the process until it is completed or a concrete agreement is reached.

According to Israeli sources, MSC is considered the leading candidate. Key factors cited include the company’s private ownership structure, the absence of external shareholders, existing operational cooperation with Zim, and MSC’s strong financial position, which would allow it to execute a transaction of this scale.

Interest from Hapag-Lloyd, however, has sparked debate in Israel, where Zim is viewed as a strategic national asset. Concerns stem from Hapag-Lloyd’s shareholder structure, which includes Middle Eastern sovereign investors. This has prompted opposition from Zim’s workforce, who have publicly raised objections based on the presence of these investors.

A central element in any potential deal is the Israeli government’s “golden share,” introduced during Zim’s privatization in 2004. It grants the state veto rights over any sale exceeding 24% of the company’s shares and imposes additional requirements on corporate governance and fleet availability in emergency situations.

At the same time, Zim is facing internal corporate tensions. A group of shareholders holding around 8% of the company has proposed changes to the board of directors. As a result, the annual shareholders’ meeting has been postponed to 26 December 2025, adding another layer of uncertainty at a time when the future of one of the global container shipping market’s notable players is being decided.