Germany Blocks Volkswagen's MAN Energy Sale to Chinese Firm

Volkswagen's MAN Energy Solutions announced compliance with the German government's decision to prohibit the planned sale of the gas turbine division to China's CSIC Longjiang GH Gas Turbine Co. A structured process to manage the division's new development will be initiated in the coming months.

Volkswagen's MAN Energy Solutions unit said on Wednesday it respected the German government's decision to block the planned sale of the business to Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT).

"We will now initiate a structured process for handling the new development of the gas turbine division, which will take place in the coming months," a spokesperson for MAN Energy Solutions said in an emailed statement.

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