Germany finds compromise over Chinese Hamburg terminal deal

By KIRSTEN GRIESHABER
Associated Press

BERLIN (AP) — Germany’s government has agreed on a compromise to allow a Chinese shipping group to take a reduced stake in the operator of a container terminal at the Hamburg port. The economy ministry said German Chancellor Olaf Scholz’ Cabinet agreed on Wednesday to allow COSCO Shipping to only acquire a stake below 25% in the Tollerort terminal of Hamburg port logistics company HHLA. The original deal had called for a 35% stake. The ministry says the decision was made to prevent a “strategic investment” by COSCO in the terminal and “reduces the acquisition to a purely financial investment” due to “the existence of a threat to public order and safety.”