Investment: Secret paper: Federal government wants to stop China deal at Hamburg port
China wants to buy a German logistics company. The Federal Government wants to prevent the takeover according to information from the Handelsblatt.
The German government is planning to block the sale of logistics company Zippel to Chinese state-owned conglomerate Cosco, citing significant security concerns. According to a confidential government document, the deal could lead to strategic dependencies that could be used as leverage in the event of political tensions. Zippel, which has a turnover of around €80 million and 210 employees, is a key player in Germany's inland container logistics, connecting the North Sea ports with industrial and commercial centers in eastern Germany.
Cosco, one of the world's largest logistics companies, is seeking to acquire an 80% stake in Zippel, but five German ministries, including the Economy, Foreign Affairs, and Defence ministries, have expressed concerns about the deal.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
