Takeover gets green light
GERMANY’S Economy Ministry has approved the takeover of German aerospace supplier Cotesa by China’s Advanced Technology and Materials.
Cotesa’s chief executive officer Joerg Huesken confirmed to German newspaper Frankfurter Allgemeinen Zeitung on Wednesday that the deal finally got approval from the German government after a months-long investigation. It was the first takeover conducted by Chinese investors that was approved by the German government since it reformed its rules on foreign acquisitions in July 2017.
Cotesa, a mid-sized German firm that makes composite fiber components for aircraft producers such as Airbus and Boeing, signed a takeover contract last September with AT&M for between 100 million and 200 million euros (US$122 million-US$244 million).
But the ministry intervened last December and investigated the acquisition to “check whether it complies with Germany’s law on foreign trade.”
The ministry has also raised the investigation time from previous two months to up to four months.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.