Safe passage for Deutsche Bank cargo deal?
TEXT OF STORY
MARK AUSTIN THOMAS: Almost a year ago Dubai Ports World proposed taking over the operations of six American ports. It was rejected due to concerns over security. Now a German company, Deutsche Bank, plans to take over a major ocean cargo handler in the New York area. Will this deal face the same scrutiny? Alisa Roth reports.
ALISA ROTH: Like the failed Dubai ports deal, the Deutsche Bank-Maher agreement will have to be approved by CFIUS, the Committee on Foreign Investment in the United States.
CFIUS looks at how foreign investments might affect the U.S. — especially security issues.
Last year, the committee reportedly reviewed 70 percent more deals than it did the year before, and CFIUS is looking harder at those deals.
RON OLEYNIK: The practice has also been evolving. They’re asking for much more information. They’re asking for it sooner. They’re asking for pre-notification.
Ron Oleynik is an international trade lawyer. His firm represents Maher Terminals, but he was not involved in this transaction.
Most people say the German acquisition represents little security risk and the deal will likely be approved.
In New York, I’m Alisa Roth for Marketplace.
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