Germany blocks Cosco takeover of Zippel-Gruppe

The German Federal Government has blocked the Chinese state-owned shipping company Cosco from acquiring a majority stake in the Zippel-Gruppe, a Hamburg-based logistics company. The decision was made by the Federal Ministry for Economic Affairs and Climate Action.

The ministry cited security concerns, stating that the sale would deepen dependencies on China and jeopardize the stability of supply chains within Germany and the European Union. While Germany remains open to foreign investment, the government noted that certain acquisitions pose risks to national security.

The proposed sale was intended to facilitate the withdrawal of a business partner of managing shareholder Axel Plaß. Cosco already holds a 24.99 percent stake in the Tollerort container terminal in Hamburg. The Zippel-Gruppe specializes in transporting containers and general cargo, such as pallets, machinery, and furniture, from the ports of Hamburg and Bremerhaven to industrial centers in eastern Germany and throughout Europe.