World Economy

Midea Takes 76% Stake in Kuka

Midea Takes 76% Stake in KukaMidea Takes 76% Stake in Kuka

The Chinese investor, Midea, has announced that most Kuka shareholders took it up on its takeover offer, with time for more to get on board, DW reported. Kuka’s CEO reiterated that the company will remain German in character. Shenzen-based household appliance manufacturer Midea reported that it had gathered 76.4% of the shares for Augsburg-based robotics firm Kuka. This number can still increase, as Midea’s takeover offer to Kuka stockholders—€115 for shares that are trading just below €107—lasts until the end of the day. Rules also stipulate a two-week extension because Midea surpassed its stated minimum goal of 30%.