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Germany Blocks Chinese Bid for Hamburg Logistics Firm
(MENAFN) Germany has moved to prevent Chinese state-owned shipping company Cosco from taking an 80% stake in Hamburg-based logistics company Zippel, citing concerns over national and economic security.
The Economy Ministry said Wednesday that it would issue a formal order blocking the proposed acquisition after the matter was discussed by the Cabinet.
"The reason for the prohibition is security concerns. The acquisition would have deepened dependencies and jeopardized the resilience of supply chains in Germany and the EU,” the ministry spokesman said.
The government stressed that Germany remains open to foreign investment, while noting that national legislation permits authorities to assess foreign purchases of German companies individually.
Such reviews examine whether a proposed transaction could pose a threat to public order or national security, according to the ministry.
Cosco ranks among the world’s largest shipping companies by cargo volume and already maintains a significant presence in Germany’s port infrastructure.
The Chinese shipping group currently owns a 24.99% stake in Hamburg’s Tollerort container terminal.
The Economy Ministry said Wednesday that it would issue a formal order blocking the proposed acquisition after the matter was discussed by the Cabinet.
"The reason for the prohibition is security concerns. The acquisition would have deepened dependencies and jeopardized the resilience of supply chains in Germany and the EU,” the ministry spokesman said.
The government stressed that Germany remains open to foreign investment, while noting that national legislation permits authorities to assess foreign purchases of German companies individually.
Such reviews examine whether a proposed transaction could pose a threat to public order or national security, according to the ministry.
Cosco ranks among the world’s largest shipping companies by cargo volume and already maintains a significant presence in Germany’s port infrastructure.
The Chinese shipping group currently owns a 24.99% stake in Hamburg’s Tollerort container terminal.
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