Israeli shipping company CIM said the international shipping company is in talks with investment bank Evercore, which has been hired to find a buyer.
The announcement comes after CIM’s board of directors rejected an attempt by company CEO Eli Glickman and four other top managers to buy out the company, together with businessman Rami Unger, for NIS 2.3 billion.
It should be noted that CIM is a company in which the state has a “golden share”, obliging the company to make a group of ships available to the state in emergency situations, and approval of its sale to a foreign company will require the consent of the state.
Let us recall that Idan Ofer, the previous owner of a controlling stake in CIM, got rid of his stake in the company a couple of years ago with a profit of $1.9 billion.
Since then, CIM has operated without a controlling shareholder. Last year, the company added 46 new vessels to its fleet, 28 of which run on liquefied natural gas.