According to foreign media reports, Midea’s acquisition of KUKA is nearing completion. The German industrial robot manufacturer KUKA Group announced that the US Foreign Investment Committee and the Defense Trade Control Council have approved the acquisition of KUKA by China Midea Group.
The transaction was allegedly approved by all relevant regulatory authorities. Both parties expect the deal to be completed in early January 2017.
It is reported that in August 2015, Midea’s international holding company, a subsidiary of Midea Group, held 1,937,600 shares of KUKA Group, with a shareholding ratio of 5.43%, becoming the fourth largest shareholder of KUKA. In May of last year, Midea announced that its shareholding in KUKA would increase to over 30%, and the acquisition amount would reach US$4.99 billion, making it the largest shareholder of KUKA. In August last year, Midea announced that it had held a 94.55% stake in German robot giant KUKA. In November, the US National Security Advisory Group reviewed the acquisition of KUKA by China Midea Group. After two months, Midea’s acquisition of KUKA was finally approved.
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