Germany’s government is set to block the takeover of a German company by Chinese investors, marking the first time it has used a tough foreign investment law passed last year to veto an M&A deal.
The German business magazine Wirtschaftswoche reported that the government was blocking the acquisition of Leifeld Metal Spinning, a machine tool manufacturer based in the north-western town of Ahlen, by a Chinese company.
After investigating the deal, ministers had concluded it would “endanger public order and security in Germany”, according to the DPA news agency.
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