Germany won't obstruct Kuka takeover by China's Midea

Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

BERLIN (AP) — The German government is making clear that it won't obstruct the planned takeover of industrial robot maker Kuka by Chinese appliance maker Midea.

Midea's move is part of a wave of Chinese investments overseas but it also raised misgivings among some in Germany about foreign takeovers of local companies. Midea, which has now secured some 95 percent of Kuka's shares, has promised that Kuka will remain independent.

The German government can open a formal examination of whether a proposed deal poses security or other risks if an investor from outside the European Union acquires 25 percent or more of a German company. It can then forbid a deal or impose conditions.

However, Economy Ministry spokesman Andreas Audretsch said Wednesday that it's decided against such an examination.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics

The Associated Press


    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the Trending 5.
    By subscribing, you acknowledge and agree to's Terms of Use and Privacy Policy.

    KSL Weather Forecast