Finance Ministry Opposes Current ZIM Sale Plan
Published
Israel's Finance Ministry advised against approving the proposed $4.2 billion sale of ZIM to Hapag-Lloyd and FIMI in its current form, according to a written opinion sent Monday to the Government Companies Authority. The ministry warned that the planned Israeli shipping arm could depend on Hapag-Lloyd for containers, infrastructure and vessel capacity, weakening the independence sought in the deal. It also questioned a structure under which FIMI would take control of that arm without an upfront equity investment. The opinion leaves room for a revised proposal; the Government Companies Authority has not made a final decision.