Israel’s Companies Authority has intervened in the potential sale of shipping company ZIM, slightly cooling the process and signaling that the state may actively oppose certain transactions. In a formal warning to ZIM board chairman Yair Seroussi, the Authority emphasized that the state retains the right to object to the sale of more than 24% of the company’s shares.
The Companies Authority is responsible for enforcing the state’s “interests order” in such cases. In ZIM’s case, this order relates to the state’s so-called “golden share,” which imposes restrictions on the transfer of shares to foreign entities. Germany’s Hapag-Lloyd and Denmark’s Maersk have expressed interest in acquiring a stake in ZIM.
Source: calcalistech.com