Hapag-Lloyd in Advanced Talks Over Potential Acquisition of Israeli Rival Zim
Financial terms of a potential deal weren’t disclosed
Hapag-Lloyd HLAG 3.88%increase; green up pointing triangle is in advanced talks over a potential acquisition of Zim Integrated Shipping Services ZIM 4.82%increase; green up pointing triangle, 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 deals, while the required approvals by the management board, supervisory board and corporate bodies haven’t yet been granted.
In addition, Hapag-Lloyd said any deal will require the consent of the state of Israel, additional regulatory approvals and the consent of the Zim shareholders.
Financial terms of a potential deal weren’t disclosed.