Caixin
Oct 27, 2022 05:45 PM
BUSINESS

Germany Gives Chinese State-Owned Company Green Light for Hamburg Port Investment

What’s new: The German government has given the go ahead for Cosco Shipping Ports Ltd.’s controversial investment in a container terminal at Hamburg port, the Chinese firm said in a Wednesday exchange filing.

The approval, which is being finalized, allows Cosco Shipping Ports to acquire no more than 24.9% of the Tollerort terminal, smaller than the planned 35% target, and is also subject to certain other unspecified conditions regarding shareholder rights, according to the filing.

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