Hapag-Lloyd and ZIM reach definitive merger agreement

Hapag-Lloyd and ZIM Integrated Shipping Services Ltd. have reached a definitive merger agreement under which Hapag-Lloyd will acquire 100% of ZIM’s shares for $35.00 per share in cash, valuing the transaction at approximately $4.2 billion.

The offer represents a 58% premium to ZIM’s closing share price on February 13, 2026, a 90% premium to its 90-day volume-weighted average price and a 126% premium to its unaffected share price of $15.50 on August 8, 2025, prior to market speculation.

Upon completion, the combined group will operate a modern fleet of more than 400 vessels with capacity exceeding 3 million TEU and projected annual transport volumes of over 18 million TEU by 2027. The merger would secure Hapag-Lloyd’s position as the world’s fifth-largest container shipping line while strengthening the network across all major global trades.

The companies expect the transaction to generate several hundred million US dollars in annual synergies. Customers are anticipated to benefit from expanded coverage across the Transpacific, Intra-Asia, Atlantic, Latin America and East Mediterranean trades, supported by Hapag-Lloyd’s participation in the Gemini network.

FIMI to launch “New ZIM”

As part of the transaction structure, FIMI — Israel’s largest private equity fund — will acquire a carved-out container liner business to establish a new Israeli shipping company, “New ZIM”. The new entity will start operations with 16 modern vessels and assume responsibility for ZIM’s Special State Share, subject to approval by the State of Israel.

“New ZIM” will operate under the ZIM brand, focus on key strategic trade lanes connecting Israel with Europe, the United States, the Mediterranean and the Black Sea, and benefit from a long-term strategic partnership with Hapag-Lloyd, including commercial support and access to its global network.

Rolf Habben Jansen, CEO of Hapag-Lloyd, said: “ZIM is an excellent partner for Hapag-Lloyd. Customers will benefit from a significantly strengthened network on the Transpacific, Intra Asia, Atlantic, Latin America and East Mediterranean.

We share the same ambitions: great customer service, outstanding operational quality, and a commitment to digital innovation – all powered by the expertise and passion of our people worldwide. We commit ourselves to build a very substantial and long-term presence in Israel.”

Eli Glickman, President and CEO, ZIM, said: “I am incredibly proud of the strategic transformation we have executed at ZIM over recent years, which has generated exceptional value for our shareholders. Since our IPO in January 2021, we have distributed an extraordinary $5.7 billion in dividends. Upon completion of this transaction, total capital returned will be approximately $10 billion.”

Yair Seroussi, Chairman of ZIM’s Board of Directors, said: “Today’s announcement is the culmination of a thorough strategic review carried out by ZIM’s Board of Directors. We believe this represents the most prudent and beneficial transaction for all ZIM stakeholders.”

Ishay Davidi, Founder and CEO of the FIMI Funds, said: “FIMI recognizes and believes in the strategic importance for the State of Israel of a strong independent Israeli shipping company. We will create a stable Israeli company, the new ZIM, and view Hapag-Lloyd as a significant strategic partner for its ongoing operations.”

Until closing, which is expected by late 2026 and remains subject to shareholder and regulatory approvals, Hapag-Lloyd and ZIM will continue to operate independently and maintain business as usual, with collaboration limited to existing vessel-sharing and slot charter agreements.