Germany Blocks Chinese Acquisition of IMST Due to National Security Concerns

Germany has blocked the takeover of satellite and radar technology firm IMST by a subsidiary of state-controlled missile maker China Aerospace and Industry Group (CASIC) due to national security concerns, a government document showed on Tuesday, Reuters reports.

A German economy ministry spokeswoman declined to comment on company names, the British agency writes, but said the cabinet had authorized the ministry in a closed-door meeting to screen and block a foreign investment by a non-European investor on the grounds that the step could pose a threat to national security.

A spokeswoman for IMST, based in the western town of Kamp-Lintfort in North Rhine-Westphalia, declined to comment.

IMST

China Aerospace Industry Group

German economy ministry

acquisition

satellite and radar technology