China's Midea buys nearly half of German robotics firm Kuka

The Star:  Chinese appliances giant Midea moved a step closer to fulfilling its ambition to acquire German industrial robotics firm Kuka with two weekend deals raising its stake to nearly a majority. 

Two of Kuka’s biggest German shareholders – technology company Voith and entrepreneur Friedhelm Loh – said they had decided to take up Midea’s offer of €115 (RM512) per share and sell their stakes. 

German news agency DPA reported that Voith had agreed to sell its stake of 25.1% for €1.2bil (RM5.34bil). 

And Loh told the business daily Handelsblatt he had decided to sell his stake of 10% for nearly €500mil (RM2.22bil). 

Combined with its existing holding of 13.5% in Kuka, the two purchases mean Midea now holds 48.5%, or not far from the outright majority, in the Augsburg-based robot builder.   Cont'd...

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Thomas R. Cutler: Leading Manufacturing Journalist Worldwide

Thomas R. Cutler: Leading Manufacturing Journalist Worldwide

Cutler authors more than 1000 feature articles annually regarding the manufacturing sector. Cutler has established special divisions including African manufacturing, Colombian manufacturing, Gen Z workforce, and Food & Beverage. Cutler was recently named the Global Supply Chain journalist of the year for the second time in a row. Over 5200 industry leaders follow Cutler on Twitter daily at @ThomasRCutler. Contact Cutler at trcutler@trcutlerinc.com.