Cosco Cleared for Stake in Hamburg Terminal

By Wang Lingbo, Li Rongqian and Denise Jia

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What’s new: The German government cleared the way for state-owned China Cosco Shipping Corp. Ltd.’s acquisition of a minority stake in a Hamburg container terminal, Hamburg port logistics company Hamburger Hafen und Logistik (HHLA) said Wednesday.

Cosco’s unit Cosco Shipping Ports Ltd. will buy a 24.99% stake in the Tollerort terminal, one of three large container terminals at Hamburg port operated by HHLA. The price of the deal was not disclosed.

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