Category: ZIM
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Opposition to ZIM’s sale to Hapag-Lloyd grows
Opposition to ZIM’s sale to Hapag-Lloyd grows Opposition to Hapag-Lloyd’s planned takeover of Israeli line ZIM is growing, with union protests and the controversial sale debated at the Knesset, Israel’s parliament, yesterday. Hapag-Lloyd unveiled a $4.2bn takeover offer for ZIM a week ago (pictured), in a deal that would carve out a ‘New ZIM’ made…
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ZIM sets out terms of $4.2bn Hapag-Lloyd deal, outlines New ZIM carve-out
ZIM sets out terms of $4.2bn Hapag-Lloyd deal, outlines New ZIM carve-out New York-listed Israeli carrier ZIM Integrated Shipping Services has laid out the full terms of its agreed sale, confirming shareholders will receive $35 per share in cash under a merger deal that values the company at about $4.2bn. The price represents a 58%…
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Hapag-LLoyd to acquire ZIM in $4.2 BN cash deal
Hapag-LLoyd to acquire ZIM in $4.2 BN cash deal More consolidation in the container shipping business: Hamburg-headquartered Hapag-Lloyd and Haifa, Israel-headquartered ZIM Integrated Shipping Services Ltd have signed an agreement under which Hapag-Lloyd will acquire 100% of ZIM’s shares for a consideration of $35.00 per share in cash. The total transaction value amounts to over…
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Hapag-Lloyd closes in on Zim takeover
Hapag-Lloyd closes in on Zim takeover Germany’s Hapag-Lloyd has confirmed it is in advanced negotiations to acquire all shares in Israeli rival Zim Integrated Shipping Services in a deal reported to be worth up to $3.7bn. In a brief statement, the Hamburg-based carrier said no binding agreement has yet been signed and that approvals from…
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Global liners look at acquiring ZIM
Global liners look at acquiring ZIM Hapag-Lloyd is seeking to acquire ZIM, Israel’s largest container carrier, according to multiple media outlets, but the move is already running into resistance from ZIM’s workers’ committee, which has warned that the presence of Qatari and Saudi sovereign funds among the German carrier’s shareholders could pose a national security…
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Race for ZIM tipped to widen
Race for ZIM tipped to widen ZIM Integrated Shipping Services has hired Wall Street advisory house Evercore to trawl for alternative buyers, as early signals from CEO Eli Glickman and long-time shipping investor Rami Unger have failed to satisfy the board’s valuation expectations. According to Israeli financial title Calcalist, Glickman and Unger are exploring a…
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Port of Long Beach: Container spill clean-up makes progress
Port of Long Beach: Container spill clean-up makes progress Salvage and recovery operations continue on the Mississippi, the 5,500 TEU Zim-chartered containership at the center of last week’s container spill incident that saw nearly 70 boxes topple into the water at the Port of Long Beach’s Pier G . VIDEO: Nearly 70 containers fall off…
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67 boxes tumble overboard from ZIM-chartered vessel berthed at Long Beach
67 boxes tumble overboard from ZIM-chartered vessel berthed at Long Beach A ZIM-chartered containership suffered a serious cargo accident while alongside at the Port of Long Beach yesterday, with 67 containers falling into the harbour during discharging operations — some striking a clean air barge moored nearby. The accident involved the 2024-built, 5,504 teu Mississippi…
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Turkey shuts ports to Israeli-linked vessels and cargoes
Turkey shuts ports to Israeli-linked vessels and cargoes ZIM confirmed on Monday that Turkish authorities have barred Israeli-linked vessels from entering the country’s ports, in the latest escalation of Ankara’s sanctions against Israel. The Haifa-based line, the world’s ninth-largest container carrier, said that vessels that are either owned, managed or operated by an entity related…
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Abraham Unger and Eli Glickman reportedly bid to take ZIM private
Abraham Unger and Eli Glickman reportedly bid to take ZIM private Israeli business news outlet Calcalist is reporting that ZIM CEO Eli Glickman is teaming up with Israeli shipping magnate Abraham Unger in a bid to take ZIM private. A deal is reportedly being discussed in the $2.4bn range, which is equal to roughly $20…