HHLA, China's Cosco finalise investment in Hamburg port after govt approval

Hamburger Hafen und Logistik AG

19/06/2023 12:46

BERLIN, June 19 (Reuters) - HHLA  HHFGn.DE  and Chinese
shipping firm Cosco  601919.SS  have finalised an agreement
allowing the Chinese shipping firm to take a 24.99% stake in one
of HHLA's three terminals in the Hamburg port, the German
logistics firm said on Monday. 
    HHLA said in a statement that the approval process by the
German government had been completed.
    Chancellor Olaf Scholz in October had pushed through a
decision to let Cosco buy a 24.9% stake in the terminal - less
than an initially planned 35% stake.
    The decision prompted protests within Germany's government
coalition and from abroad over concerns about increasing Chinese
influence.

 (Writing by Friederike Heine, Editing by Miranda Murray)
 ((friederike.heine@thomsonreuters.com;))