Hapag-Lloyd's move was unwelcome which its ownership structure, includes Qatar Holding LLC (12.3%) and Saudi Arabia’s sovereign wealth fund PIF (10.2%) among its main shareholders

 When Hapag-Lloyd German shipping giant Hapag-Lloyd (ETR:HLAG) announced  to  seeking acquire Israeli  Shipping Services Ltd. (NYSE:ZIM)  stock rose 4% following reports from Globes 

But It seems the negotiations yet to begin between the parties initial stages  according to reports, ZIM, which ranks ninth globally with a 2.5% container shipping market share, has attracted interest from multiple industry players. The Israeli shipping company declined to comment on the offer.

MSC and Maersk, on the negotiating line

 At the same time Industry leaders MSC and Maersk, which control 20.2% and 14.3% of the global container shipping market respectively, have also reportedly expressed interest in acquiring ZIM, which currently has a market capitalization of $2.4 billion. The acquisition interest follows ZIM’s CEO Eli Glickman and shipping magnate Rami Ungar submitting their own offer to purchase the company.

Related : Negotiations for the sale of the Israeli company Zim

Hapag-Lloyd's move was unwelcome

While Hapag-Lloyd's move was unwelcome particularly notable given its ownership structure, which includes Qatar Holding LLC (12.3%) and Saudi Arabia’s sovereign wealth fund PIF (10.2%) among its main shareholders. ZIM’s workers committee has expressed strong opposition to the potential acquisition by the German shipping company, which currently holds 7.4% of the global container shipping market.

 Negotiations for the sale of the Israeli company ZIM

It is noteworthy that Negotiations for the sale of the Israeli company ZIM that following receipt of a preliminary, non-binding proposal for the acquisition of all outstanding common shares of the company from Eli Glickman, the company's CEO and Chairman, and entrepreneur Rami Ungar, ZIM's Board of Directors promptly initiated a strategic evaluation of alternatives. In connection with this evaluation, ZIMs Board of Directors engaged Evercore as financial advisor and Meitar Law Offices and Skadden, Arps, Slate, Meagher & Flom LLP as legal advisors according to Shipping Italy repor

Hapag-Lloyd , ZIMs Board ,Rami Ungar,MSC , Maersk  ,The acquisition