Defense minister opposes ZIM sale

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Minister of Defense Israel Katz issued a statement yesterday evening that appears to damage the chances of the deal for the sale of ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) to German shipping giant Hapag-Lloyd and private equity firm FIMI being completed. "The minister of defense has adopted the stance of the security commissioner and the professional staff in the Ministry of Defense according to which the sale of ZIM in the proposed format does not allow for the preservation of the security interests of the State of Israel," the statement says.

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Earlier yesterday, it was reported in the "Israel Hayom" newspaper that Prime Minister Bejamin Netanyahu had also expressed opposition to the proposed deal.

The deal announced in February consists of the sale of the company for $4.2 billion, and it was approved by a sweeping majority of ZIM shareholders. It now awaits the approval of the regulators, headed by the State of Israel. In a session of the Knesset Finance Committee last month, the Ministry of Economy and Industry announced opposition to the deal, while the Ministry of Finance and the Ministry of Defense said they had not yet decided.

As far as is known, the comments of the prime minister and the minister of defense on the deal have not been officially communicated to the buyers, who continue to work vis-à-vis government agencies and to deliver the required materials in accordance with the timetable and as part of the regulatory approval process.

For his part, the chairperson of ZIM’s workers committee Oren Caspi responded positively to the defense minister’s remarks. "In my name, and on behalf of hundreds of ZIM employees and their families, I wish to express deep appreciation for the prime minister, the minister of defense, deputy minister Almog, and all the government ministers for their unambivalent stance on the side of the Israeli economy and national strength. The dramatic decision to oppose the sale of the company and to keep ZIM in Israeli hands is first of all a moral decision of the highest order," he said.

"This is a critical security and strategic decision," Caspi continued. "At a time when the global supply chain is threatened, maintaining Israel’s maritime sovereignty is a certificate of security for the country. Thanks to the determination of the leadership and the ministers, the main oxygen pipe of the economy remains blue and white, protected, and loyal to the State of Israel."

Published by Globes, Israel business news - en.globes.co.il - on July 6, 2026.