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Article: Germany: Hapag-Lloyd s Owners Will Provide 1.86 Billion Euros in Aid.
- Article from:
- TendersInfo
- Article date:
- October 3, 2009
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German lawmakers today delayed a decision to grant loan guarantees to Hapag-Lloyd AG, saying the bid by the shipping company s owners was opaque and could lead to taxpayers money being misspent.
Parliament s budget committee in Berlin gave the government 24 hours to clarify issues related to a 1.2 billion euro ($1.75 billion) loan guarantee, the lawmakers said. Their concerns over the guarantees, provisionally approved by the government on Sept. 28, focused on the role of Hapag s main shareholder TUI AG, they said.
The petition for aid is raises serious questions on where taxpayers money will be spent, and we need answers quick, Juergen Koppelin, the ...