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Nov 24, 2021

Midea Group increases the number of robot tracks and privatizes KUKA

According to news on November 24, the actual controller has just completed the plan to increase its holdings. News of Midea Group (000333) to increase its robotics and automation business followed one after another.

Yesterday evening, Midea Group announced that it intends to fully acquire and privatize the shares of kuka Aktiengesellschaft (hereinafter referred to as "KUKA"), a company listed on the Frankfurt Stock Exchange in Germany, through a wholly-owned subsidiary. At present, Midea Group indirectly holds 94.55% of KUKA through its overseas subsidiary MECCA. If the acquisition is completed, KUKA will be wholly-owned, and the latter will be delisted from the Frankfurt Stock Exchange. As of the latest close, KUKA's share price is 67.6 euros per share, an increase of more than 60% since April.


As an important carrier of Midea's robotics and automation business, KUKA's wholly-owned acquisition this time will help focus on business operations and at the same time enhance the collaboration and sharing of internal resources of Midea Group in related business areas.


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