On May 20, Midea Group announced that it had previously disclosed that its subsidiary plans to fully acquire and privatize the shares of German Kuka (KUKA). The company’s proposal to fully acquire the remaining shares of KUKA held by minority shareholders in cash” has been reviewed and approved by KUKA’s annual general meeting of shareholders.
This means that after nearly 7 years, Midea has finally included German KUKA.
Midea said that the company is actively promoting the relevant work of this acquisition and will disclose the progress of the acquisition in a timely manner in accordance with relevant regulations. As there are still uncertainties in this acquisition, investors are advised to pay attention to investment risks.
According to the reporter’s understanding, in 2015, Midea proposed the “dual intelligence” strategy (smart home and intelligent manufacturing). on the body.
In August of the same year, Midea acquired a 5.4% stake in KUKA through MECCA, an overseas wholly-owned subsidiary, and became the latter’s fourth largest shareholder; from March to June 2016, Midea successively increased its holdings of KUKA through cash payment for tender offer and equity transfer. Card. In January 2017, Midea finally announced that it would spend a total of 22.9 billion yuan to acquire a 94.55% stake in Kuka.
In November 2021, Midea Group announced that it plans to acquire KUKA’s equity in an all-round way. After the acquisition, KUKA will become a wholly-owned overseas subsidiary of Midea and will be delisted from the Frankfurt Stock Exchange.