EQS-Adhoc: Hapag-Lloyd Aktiengesellschaft signs agreement to acquire ZIM Integrated Shipping Services Ltd.

Hapag-Lloyd Aktiengesellschaft signs agreement to acquire ZIM Integrated Shipping Services Ltd.

Following approval by the relevant bodies of both parties, the Executive Board of Hapag-Lloyd Aktiengesellschaft (“Hapag-Lloyd”) today signed an agreement to acquire 100% of the outstanding shares of ZIM Integrated Shipping Services Ltd. (“ZIM”). The acquisition is to be carried out by way of a merger of an Israeli subsidiary of Hapag-Lloyd with ZIM, with ZIM continuing to exist as a new, wholly-owned subsidiary of Hapag-Lloyd.

The consideration is to be USD 35.00 per ZIM share in cash, with the total consideration amounting to approximately USD 4.2 billion. The transaction will be financed from Hapag-Lloyd's cash reserves and external financing of up to USD 2.5 billion.

The completion of the transaction is subject to the approval of the State of Israel as the holder of special rights provided for in ZIM's articles of association ("Special State Rights") and the release of ZIM from the obligations arising from the Special State Rights. Hapag-Lloyd has entered into an agreement with FIMI Opportunity Funds, a leading Israeli financial investor ("FIMI"), under which a company controlled by FIMI ("New Company") will assume the obligations arising from the Special State Rights. For this purpose, twelve ships and the assets required for the operation of three trade routes are to be transferred from Hapag-Lloyd or ZIM to the New Company. The implementation of this structure is subject to the aforementioned proviso that the competent authorities of the State of Israel grant their approval. In addition, the completion of the acquisition of ZIM is subject, among other things, to the approval of ZIM's general meeting and the receipt of further regulatory approvals, in particular antitrust and investment law approvals.

ZIM is the tenth largest container shipping line in the world. The merger would secure Hapag-Lloyd's market position as the fifth largest shipping line in the world with a modern fleet of over 400 vessels, a capacity of more than 3 million TEU and an annual transport volume of more than 18 million TEU.

Subject to obtaining the necessary regulatory approvals, the transaction is currently expected to be completed by the end of 2026.

 

Contact:
Alexander Drews
Director Investor Relations

Hapag-Lloyd AG
Ballindamm 25
20095 Hamburg
Phone +49 40 3001-3705
Fax +49 40 3001-72896
Mobile +49 174 326-3123