Authorities block China from taking over Danish container company. Cargo containers are very resistant, as demonstrated by tests such as those carried out by A.P. Moller Maersk, the Danish shipping giant. China International Marine Containers offered about one billion euros to become the majority shareholder of the company but the operation failed at the request of the authorities for the defense of fair competition in Germany and the United States. With the Chinese purchase, it would have controlled 90% of the world market for refrigerated containers, the coronavirus crisis demonstrated the importance of containers for world trade, reports DW.
Choosing China as a buyer is something very surprising because everyone thought that the authorities would block the purchase, which finally happened. China is already too powerful in this industry to buy Maersk as well, which is why the deal fell through, Chinese investments in the European Union such as in the port of Hamburg come under close scrutiny Chinese state shipping company Costco recently acquired a small stake in a cargo terminal in this german city. In total 10% of the port capacity of the European Union is now in Chinese hands.
the foundation examined Chinese investments in Germany and analyzed the strategy that is behind. “Made in China 2025” is a policy-level strategy that aims to make China a leading industrial nation, and the acquisition of foreign high-tech companies is part of that plan. Normally the federation of the german industry considers it positive that Chinese companies want to invest in Germany means a vote of confidence what is decisive in the discussion about this company in the port of Hamburg is the question of whether a Chinese shareholder can impose decisions on us that we don’t like if this is not the case I have no problem with the investment and I see it positively but we have to look after our interests and not get rid of all the German assets. The fears surrounding the acquisition of Maersk have dissipated Supply chain. Problems have eased and demand is falling, but Western companies know that Western governments are wary of doing business with China.
Source: DW
