Economy
Hapag and Pimi Improve Offer: Additional ZIM Asia Route Remains Under Israeli Control
Facing state opposition to their ZIM purchase plan, German Hapag-Lloyd and the Pimi fund are proposing to increase ZIM Israel's autonomy and strengthen state control through a golden share.
· Source: TheMarker. Photo as published in the article
German Hapag and the Pimi fund submitted Thursday a revised proposal to acquire ZIM after the state hardened its position against the previous deal structure.
After the state opposed the Hapag-Lloyd and Pimi proposal, German Hapag and the Pimi fund submitted Thursday a revised offer to purchase the Israeli shipping company. The proposed buyers offered to increase ZIM Israel's independence and give the state greater control through a golden share. Under the original deal structure, the companies would pay 4.2 billion dollars, most operations would shift to German Hapag-Lloyd, and ZIM Israel would remain with Pimi with 16 vessels.
