ZIM to be Acquired by Hapag-Lloyd

Fried Frank is advising Evercore as financial advisor to ZIM Integrated Shipping Services Ltd. (ZIM) on its agreement to be acquired by Hapag-Lloyd for $35.00 per share in cash, representing a total equity value of approximately $4.2 billion. The firm also represented Barclays, which rendered a second fairness opinion to the ZIM Board. The combination of the two carriers further strengthens ZIM's global market position and secures Hapag-Lloyd's status as the fifth-largest container shipping company worldwide. For more on the transaction, read ZIM's press release.

This transaction is a continuation of Fried Frank's work advising Evercore as financial advisor on high-value deals, which includes the firm most recently advising Evercore as financial advisor to Transocean on its agreement to merge with Valaris Limited and Devon Energy on its agreement to merge with Coterra Energy.

The Fried Frank team is led by corporate partners Philip Richter and Roy Tannenbaum and includes corporate associates Ryan T. Fung and Michael Yusko.

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