HHLA, Cosco finalise investment in Hamburg port

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HHLA and Cosco 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.

[reuters]

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