China’s Midea to Become Largest Investor in Germany’s Kuka
- Midea to acquire 25.1 percent stake from Voith in tender
- Investor Friedhelm Loh to also sell stake, Handelsblatt says
Attendees inspect a robotic arm at the Kuka exhibition stand during the Automatica trade fair in Munich.
Photographer: Martin Leissl/BloombergChina’s Midea Group Co. will become Kuka AG’s largest shareholder after buying a 25 percent stake in the German robot maker from investor Voith GmbH as part of a deal that’s been closely scrutinized by lawmakers.
Voith will get about 1.2 billion euros ($1.3 billion) by selling its stake, the closely held company said in a statement on Sunday. Kuka’s third-biggest shareholder, Friedhelm Loh, has also decided to sell his shares to Midea, newspaper Handelsblatt reported on Monday, citing Loh. The combined purchases would take the Chinese company’s shareholding to just under 50 percent, well above the 30 percent it was seeking as part of the tender offer.