Deals
China’s Midea Makes Cash Offer for German Robot-Maker Kuka
- Midea’s EU115 a share offer contingent on getting at least 30%
- German robotmaker already helping Midea to automate factories
This article is for subscribers only.
Midea Group Co. is seeking to raise its stake in Kuka AG to become the industrial robot maker’s largest shareholder in a deal that values the German company at 4.6 billion euros ($5.2 billion) and illustrates a surge in Chinese investment in Europe.
Midea is offering 115 euros a share, contingent on it being able to raise its holding to at least 30 percent from an indirect 13.5 percent stake held now, it said in a statement Wednesday. In doing so, Midea would jump ahead of German industrial equipment-maker Voith Group in shareholder rankings. Kuka said its boards would evaluate the offer.