Germany blocks sale of gas turbine firm to China company
Frankfurt, Germany (AFP) July 3, 2024
The German government on Wednesday blocked the sale of a gas turbine unit belonging to a subsidiary of the Volkswagen group to a Chinese investor over security concerns. Volkswagen's MAN Energy Solutions had been due to sell the unit to Chinese group GHGT and its subsidiary Guanghan Gas Turbine, but Chancellor Olaf Scholz's "cabinet had today prohibited" the move, said the economy ministry.
The German government on Wednesday blocked the sale of a gas turbine unit belonging to a subsidiary of the Volkswagen group to a Chinese investor over security concerns. Volkswagen's MAN Energy Solutions had been due to sell the unit to Chinese group GHGT and its subsidiary Guanghan Gas Turbine, but Chancellor Olaf Scholz's "cabinet had today prohibited" the move, said the economy ministry.