The German Ministry for Economic Affairs and Climate Action partially prohibits Chinese investment in a Hamburg container terminal (COSCO)

On October 26, 2022, the German government permitted (with conditions) an investment by Chinese state-owned COSCO Shipping Group (“COSCO”) in one of Hamburg’s four shipping container terminals. Pursuant to foreign direct investment (“FDI”) laws, the German Ministry for Economic Affairs and Climate Action (Bundesministerium für Wirtschaft und Klimaschutz, “BMWK”) had been notified of the proposed acquisition by COSCO of a 35% minority interest in the port terminal, a strategic location on the German coastline. The BMWK ordered that COSCO’s acquisition of voting rights must remain below 25%. The details of the decision remain confidential, but the BMWK justified its partial prohibition on the grounds that the acquisition of 35% as notified would constitute a “threat to public order and

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Authors

  • Covington & Burling (Brussels)
  • Covington & Burling (Frankfurt)
  • Covington & Burling (London)
  • Covington & Burling (Frankfurt)
  • Covington & Burling (Frankfurt)

Quotation

Peter D. Camesasca, Horst Henschen, Katherine Kingsbury, Martin Juhasz, Ron Thoma, The German Ministry for Economic Affairs and Climate Action partially prohibits Chinese investment in a Hamburg container terminal (COSCO), 26 October 2022, e-Competitions November 2022 - II, Art. N° 109525

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