Ishay Davidi at the Knesset: "The New ZIM will be a $700M Debt-Free Company"

In a discussion held this morning at the Knesset Economic Committee, Ishay Davidi, founder and owner of FIMI Opportunity Funds, participated regarding the acquisition of ZIM in partnership with the German shipping giant Hapag-Lloyd.

Davidi introduced himself and FIMI's operations, asserting that his fund would not have acquired ZIM if it could not guarantee the maritime security of the State of Israel. Davidi also noted his military background in the elite Sayeret Matkal unit and detailed the roles his wife and three daughters served in the IDF - including positions in Sayeret Matkal, Unit 8200, and Shaldag - all elite units of the Israel Defense Forces. Davidi highlighted that FIMI is the largest employer in the Israeli economy, with approximately 55,000 employees. According to him, FIMI owns several defense companies with vital security interests for the State of Israel, and some even hold an "Interest Order" - a regulatory status he claimed is higher than a Golden Share.

According to Davidi: "We are going to establish 'The New ZIM.' The New ZIM will address Israel's maritime security and economic security, and it will be a very strong company. FIMI will be the 100% owner of 'The New ZIM.' FIMI is an Israeli company, and the managers will be Israeli. We are establishing a company that is exceptional in the international shipping landscape: a company with $700 million in equity and absolutely no debt. Zero debt. Regarding the quality of the vessels - the 16 ships, 12 of which will be fully owned by us, are going to be newer than ZIM's current fleet. We are purchasing these ships from Hapag-Lloyd - averaging about four years younger in age."

During the discussion, it was revealed that ZIM has not yet transferred the transaction data to the Government Companies Authority and that, in recent years, ZIM had not met the conditions of the Golden Share. MKs Oded Forer and Naor Shiri requested that the Government Companies Authority representatives thoroughly examine the "Golden Share" issue in other companies to prevent similar occurrences in the future.

MK David Bitan, Chairman of the Economic Committee, requested a follow-up discussion - closed to the public - to discuss the security implications for the export and import of weapons to the State of Israel and the expected impact on the ZIM acquisition deal.