Hapag-Lloyd in Advanced Talks Over Potential Acquisition of Israeli Rival Zim

Dominic Chopping

Mon, February 16, 2026 at 7:12 PM GMT+9 2 min read

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Hapag-Lloyd is working to include Israeli private-equity group FIMI Opportunity Funds in the deal to smooth any potential hurdles. - Fabian Bimmer/Reuters

Hapag-Lloyd is in advanced talks over a potential acquisition of Zim Integrated Shipping Services, it said Sunday.

The German shipping company said negotiations over a deal for all shares in its Israeli competitor haven’t yet resulted in any binding agreement, while the required approvals by the management board, supervisory board and corporate bodies haven’t yet been granted.

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Financial terms of a potential deal weren’t disclosed.

Zim is considered a strategic asset for Israel so the state holds a “golden share” in the company, giving it control over certain strategic decisions such as ownership.

As a result, Hapag-Lloyd is working to include Israeli private-equity group FIMI Opportunity Funds in the deal to smooth any potential hurdles.

Any deal will require the consent of the state of Israel, Zim shareholders and regulators.

The move comes after Zim appointed an independent board that has spent the last several months conducting a strategic review to assess a range of options, including a sale of the company, capital allocation options and other measures to maximize shareholder value.

The review was prompted by a revised takeover proposal from the company’s chief executive, Eli Glickman, and Israeli businessman Rami Ungar. The approach was rejected as it was deemed as undervaluing the company, but Zim has previously disclosed that it had received takeover proposals from several other parties.

Zim recently reported a sharp drop in third-quarter earnings as freight rates tumbled and container volumes slipped, with the company warning that fourth-quarter conditions had weakened.

CEO Glickman had cautioned that the company was navigating a volatile rate environment with frequent changes in tariff policies and continuing global trade tensions, creating a market environment marked by more frequent and acute disruptions and fluctuations than in the past and prompting it to adapt its transpacific network.

Zim operates a fleet of around 129 ships according to a recent investor presentation. It has a charter-intensive fleet model, which means it leases or charters a large portion of its vessels, allowing it to adjust capacity as market conditions evolve. At the same time, the company has steadily increased the proportion of owned or long-term chartered vessels, which it says improves fleet quality and reduces exposure to short-term charter volatility.

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Zim is listed on the New York Stock Exchange, with a market value of $2.7 billion as of Friday’s close.

Zim and FIMI didn’t respond to a request for comment.

Write to Dominic Chopping at dominic.chopping@wsj.com

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