50Hertz ensures the power supply of about 18 million inhabitants in Germany. The company remains without influence from China. This is made possible by a castling move, with the participation of the Federal government.
The Federal government has prevented the entry of China into the German power supply. The state Bank KfW acquires a share of 20 percent of the transmission network operator 50Hertz and stands out from the Chinese state-owned company SGCC.
The Federal government have made “security-policy considerations, a high level of interest in the protection of critical energy infrastructures”, stated the Ministry of economy on Friday. The population and economy are expected to be a reliable energy supply.
Important political Signal
Thus, Germany is an important political Signal. Because Chinese investors are on a shopping tour in Germany and Europe, especially in the case of the technologies of the future and in strategically important areas. SGCC is the China’s state grid operator and was of 2017, with nearly 350 billion dollars in turnover and 1.6 million employees at number two in the “Fortune Global 500″list of the world’s largest companies.
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Politically, SGCC is under the control of the Communist party: “to support The leadership of the party, to strengthen the construction work of the party, are the root and soul of state-owned enterprises”, – said on the SGCC website. The group is also expanding abroad, and has purchased participations in Italy and Portugal.
The first attempt failed in the spring
In the spring had failed in a first step, a first attempt of the Chinese, at 50Hertz to enter. Instead of SGCC, the majority shareholders of 50Hertz, the Belgian utility Elia had taken over, further shares. The Belgians increased their share to 80 percent.
The Chinese state-owned company had Reportedly also interested in the remaining minority share of 20 percent. Elia was again of its right of first refusal and the package acquired by the Australian investment Fund IFM, as the company announced. This share will now be sold without delay to the same terms and conditions of the KfW. The Ministry of the economy spoke of a “bridge solution” – the shares should in perspective be resold.
Part of the critical infrastructure
50Hertz CEO Boris Schucht, said that the introduction of the KfW show the fundamental importance of the transmission network as part of the critical infrastructure of the country. “This commitment is a strong commitment of the Federal government to the energy transition in Germany, we appreciate it very much.”
In another case, the Federal government is active. As on Thursday it became known, the government put its Veto on the sale of the Westphalian machine tool manufacturer Leifeld Metal Spinning to Chinese investors. A report of the “Wirtschaftswoche” has been confirmed to the German press Agency in coalition circles.
New External Economic Regulation
Reason was, that a sale could jeopardize public order or safety in Germany. The Cabinet of Ministers of wool on 1. August a decision to this meeting. The Ahlener company, according to “business week”, around 200 employees. The company is a technology leader in high-strength materials in the aerospace, but also in the nuclear field-usable.
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China’s greed for German companies
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China’s greed for German companies
It would be reportedly the first Time that Germany is applying the new foreign trade regulation and the entry of foreign investors, on this basis, prohibits. The Federal government had expanded in 2017, their right of veto against the Acquisition of strategically important companies by foreign investors and, therefore, on several companies of Chinese acquisitions is not responding.
Discussion on EU-level
Also at the EU level is currently being discussed on Acquisitions to discourage Chinese investors. Chinese investors are active all over the world, in Germany, companies from the people’s Republic are especially interested in key technologies such as robotics, mechanical and plant engineering or the biomedical. The official goal of the Chinese government, until the middle of the century in all the important industrial, technological world divisions to take on top.
The most attention attracted so far in 2016, the billion-dollar Takeover of Kuka, one of the technologically leading manufacturer of robots for the industry. Buyer, the Chinese company Midea.
ul/zdh (dpa, rtr, afp)