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Germany Prevents Chinese Bid for Logistics Firm Over Security Concerns
(MENAFN) The German government has stopped Chinese state-owned shipping company Cosco from acquiring an 80% stake in logistics company Zippel, citing national security concerns.
The Ministry of Economy and Energy said the cabinet approved the decision without discussion during its meeting.
Officials said the proposed takeover could increase Germany’s strategic dependence on a foreign company and create risks for the resilience of supply chains in both Germany and the European Union.
The ministry stressed that Germany, as Europe’s largest economy, remains open to foreign investment. However, under existing laws, authorities can examine individual acquisitions when they could pose a threat to national security or public order.
Zippel is a medium-sized logistics company with annual revenue of about €80 million ($89.4 million) and a workforce of 210 employees. Its operations include road-based container transport linking North Sea ports with industrial areas in eastern Germany.
Despite handling around 175,000 containers annually, giving it a relatively small share of the overall market, Zippel accounts for more than 35% of handling volumes at terminals in Berlin, Schkopau and Elsterwerda.
The Ministry of Economy and Energy said the cabinet approved the decision without discussion during its meeting.
Officials said the proposed takeover could increase Germany’s strategic dependence on a foreign company and create risks for the resilience of supply chains in both Germany and the European Union.
The ministry stressed that Germany, as Europe’s largest economy, remains open to foreign investment. However, under existing laws, authorities can examine individual acquisitions when they could pose a threat to national security or public order.
Zippel is a medium-sized logistics company with annual revenue of about €80 million ($89.4 million) and a workforce of 210 employees. Its operations include road-based container transport linking North Sea ports with industrial areas in eastern Germany.
Despite handling around 175,000 containers annually, giving it a relatively small share of the overall market, Zippel accounts for more than 35% of handling volumes at terminals in Berlin, Schkopau and Elsterwerda.
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