Sale of major shipping line in U.S. trade on the rocks: Report

The proposed sale of Israel’s flag carrier to a German liner for $4. 2 billion is likely to be rejected by state authorities. The acquisition of Zim Integrated Shipping Services to Hapag-Lloyd of Germany and an Israeli financier is in serious regulatory trouble in Israel and looks more likely to be blocked than approved, at least in its current form, according to local media. The merger agreement itself is still formally in place and moving through global antitrust reviews, but the Israeli government’s internal process is reportedly trending negative. In February Zim, the world’s 10th-largest container line, signed a definitive agreement to be acquired for $35 a share in cash by fifth-ranked Hapag-Lloyd and FIMI Opportunity Funds, Israel’s largest private equity firm.