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.. .
Midea makes bid for robotics maker Kuka official
DW.com: Chinese appliance firm Midea has announced it has launched a cash offer for a stake of 30 percent in German industrial robotics supplier Kuka. The takeover bid has stoked controversy in Germany and Europe.
Midea said on Thursday it would offer 115 euros ($130) per share to Kuka owners under efforts to become the biggest single shareholder in one of the world's leading manufacturers of industrial robots.
The Chinese appliance maker, which is so far only known to be producing washing machines and air conditioners, also said its offer would end July 15, with no ceiling on the percentage of shares it was aiming to buy. Kuka shares closed at just above 106 euros in trading at the Frankfurt Stock Exchange on Wednesday. The stock gained about 26 percent since the deal was first proposed in May. Cont'd...
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