Hapag-Lloyd and FIMI Submit Revised ZIM Bid With Far East Routes

Hapag-Lloyd and Israel's FIMI fund submitted a revised proposal to the Government Companies Authority for their planned $4.2 billion acquisition of ZIM, according to Israeli reports citing the partners' joint announcement. The proposal would expand routes assigned to a separately controlled ZIM Israel to include direct Far East services alongside routes to Europe and the United States. ZIM Israel would have 16 vessels, including a core fleet it would own, while Israel could call on 12 vessels in a crisis under its golden share. It would also gain access to Hapag-Lloyd's global container fleet. The authority has not approved the proposal, and the sale has not been completed.