News
The Federal Government of Germany on Wednesday approved a ban on the acquisition of an 80% stake in Konrad Zippel by China COSCO Shipping and made an official decision to block it, according to the nation’s Federal Ministry for Economic Affairs and Climate Action (BMWK).
Berlin fears the deal would increase Germany’s strategic dependence on China and undermine German and EU supply chains.
Konrad Zippel is a Hamburg-based midsize logistics company with some 210 employees, transporting containerized shipments by truck and rail (inland intermodal transport) between ports along the North Sea and eastern Germany.
COSCO announced in January that it had agreed to own 80% of Konrad Zippel through its wholly owned subsidiary in the Netherlands and place it under its effective control.
