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Economics
The mechanical engineer Leifeld is considered a technological leader in high-strength materials. Westfalen's know-how awakens desires around the world. The federal government now wants to prevent the sale of a company to Chinese investors. It would be a first.
According to a magazine report, the German government wants to ban a business purchase in Germany by Chinese investors for the first time. The government has vetoed the sale of Westphalian metal machinery maker Leifeld Metal Spinning to Chinese investors, the Wirtschaftswoche reported, citing government circles.
The proposed veto was that a sale endangering public order or security in Germany could. The Cabinet will take a decision on 1 August, when it will meet under the chairmanship of Vice Chancellor Olaf Scholz. The Federal Ministry of the Responsible Economy declined to comment on the report on request. "We can not comment on individual investment audits," said a spokeswoman.
Leifeld also declined to comment. The company Ahlener employs according to "Wirtschaftswoche" about 200 employees. The company is a technology leader in high strength materials that are used in the aerospace industry but can also be used in the nuclear sector. As recently reported the "Magazin Manager", Leifeld was targeted by the Chinese company Yantai Taihai Corp., who wanted to seize mechanical engineering with the French group of Manoir.
Possible veto premiere
For the first time, Germany applies the new foreign trade regulations and prohibits the entry of foreign investors on this basis. In 2017, the German government extended its veto on the acquisition of companies of strategic importance by foreign investors. She had responded to several acquisitions, including by Chinese companies.
German companies have long been at the top of the list of attractive properties for Chinese investors. In 2016, the sale of chip maker Aixtron to China broke out. The United States had filed security concerns because Aixtron was also supplying the defense industry. The Ministry of Economic Affairs withdrew the initial approval of the sale
According to the Ministry of Economic Affairs, an investment review process can be acquired if investors located outside the EU obtain at least 25% of the voting rights in a German company. At the request of the acquiring company or the office, the Ministry may then consider whether the acquisition endangers the public order or the security of the Federal Republic of Germany.
Source: n-tv.de
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