Germany's HHLA, China's Cosco nearing Hamburg port deal - HHLA

Hamburger Hafen und Logistik AG

06/01/2023 09:36

BERLIN, Jan 6 (Reuters) - German logistics firm HHLA
 HHFGn.DE  and Cosco  601919.SS  are close to finalising an
agreement for the Chinese shipping giant to take a stake in a
terminal at Hamburg's port, HHLA said on Friday.
    "We can confirm that... it has been possible to agree on
concrete conditions for CSPL's (Cosco Shipping Ports Ltd)
participation in HHLA Container Terminal Tollerort GmbH," HHLA
said in a statement.
    It said HHLA and Cosco were still in talks to clarify final
details and aimed to finalise the deal soon.
    The German cabinet in October gave its approval for Cosco to
buy the terminal in Germany's largest port in a decision pushed
through by Chancellor Olaf Scholz that triggered unprecedented
protest within the governing coalition.
 (Writing by Maria Sheahan, editing by Rachel More)
 ((maria.sheahan@thomsonreuters.com; +49 30 22013 3680;))