Israel's largest cargo firm acquired by Saudi and Qatari-owned German shipping giant

German shipping giant Hapag-Lloyd has signed a $4.2 billion deal to acquire ZIM, Israel's largest and most historic cargo company. This acquisition is particularly significant because Hapag-Lloyd is partly owned by the sovereign wealth funds of Qatar and Saudi Arabia. The deal still requires final approval from the Israeli government, which considers ZIM a strategic national asset and holds shares in the company. While an Israeli equity firm will manage local operations, the acquisition has sparked controversy, leading to worker strikes.