Midea of China Buys Almost Half of German Robotics Kuka

Midea took bigger strides at it comes strong in getting near to its ambitions by buying almost half of German robotics Kuka.

Technology company Voith and entrepreneur Friedholm Loh, two of the biggest Kuka’s shareholders, have agreed to take Midea’s offer of 115 euros ($128) per sell and share their stakes.

According to news agency DPA, Voith agreed to sell it’s stake of 25.1 % for 1.2 billion euros.
And Loh told the business daily Handelsblatt he had decided to sell his stake of 10% for nearly 500 million euros.

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.

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