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New York’s IGB Group is providing strategic communications services to Zim Integrated Shipping Services, which has 129 vessels, as the Israeli company is acquired by Germany’s Hapag-Lloyd in a deal valued at $4.2B.
The $35-per-share takeover price is a 58 percent premium to Zim’s closing NYSE stock price on Feb. 13.
The deal strengthens Hamburg-based Hapag-Lloyd’s market position as the fifth-largest container shipping company worldwide, with a fleet of over 400 ships.
Rolf Habben Jansen, CEO of Hapag-Lloyd, called Zim an excellent partner for his company. “Customers will benefit from a significantly strengthened network in the Transpacific, Intra Asia, Atlantic, Latin America and East Mediterranean,” he said. "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."
The deal calls for the Government of Israel’s golden share in Zim to be transferred to a carved-out company of 16 ships owned by FIMI, an Israeli private equity firm.
That fleet will focus on connecting Israel to major ports in the EU, US, Mediterranean Sea and Black Sea and be supported by a long-term strategic alliance with Hapag-Lloyd.
Headquartered in Tel Aviv, FIMI is the country's largest and private equity fund with more than $11 billion in assets under management.
The transaction is expected to close by the end of the year.
The Qatar Investment Authority has a 12.3% stake in Hapag-Lloyd, while the Public Investment Fund of Saudi Arabia owns a 10.2% position.
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