Consultants selected to evaluate the offer from CEO Eli Glickman and Rami Ungar

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, Zim's 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 report 

A statement from the Israeli liner 

A statement from the Israeli liner explains: "The review, ongoing for several months, includes the evaluation of potential value creation alternatives, including the sale of the Company, and capital allocation and return opportunities, with the aim of maximizing shareholder value. In connection with this review, Zim's Board of Directors has received signals of interest from several parties, including strategic interests, which it is carefully evaluating."

There is no assurance that any transaction will occur as a result of this review of alternatives, and Zim's Board of Directors does not anticipate providing updates regarding this review until an agreement is reached or the review is otherwise completed.

The Zim Board of Directors recently appointed two new independent directors, Yair Avidan and Yoram Turbowicz, "who complement the Board's significant financial and transactional expertise, continuing to evaluate value-maximizing alternatives.

A golden share in ZIM

The Israeli entity holds a golden share in ZIM, confirmed upon the company's privatization. This stipulates that the company's board of directors must have a majority Israeli shareholder base, starting with the positions of Chairman and CEO. Following the almost complete exit of the Ofer family, ownership is spread among various shareholders, including large investment funds such as BlackRock and State Street Global Advisors, along with other institutional investors.

Negotiations , ZIM ,Eli Glickman ,the sale ,  The Israeli entity , Rami Ungar ,Zim's Board of Directors