Wednesday, August 17, 2016

Robot specialist Kuka: Government gives the green light for the takeover – Handelsblatt

robot manufacturer Kuka

the Federal government shall submit to the Chinese Midea Group in adopting any obstacles in the way

(Photo: AP)

Berlin for the Chinese home appliance manufacturer Midea the way for the adoption of robot manufacturer Kuka is finally free. The federal government was by its own account of Wednesday no evidence “that is threatened by the adoption of public order or security of the Federal Republic of Germany”. Only with a genuine and sufficiently serious threat to fundamental interests of Germany, the government would have had the opportunity to stop the transaction.

“After an intensive review of the acquisition of a majority stake of Kuka AG by the Chinese investor Midea, the Federal Ministry opted for economy and energy, not to open a formal investigation under the Foreign Trade law “, according to the Ministry with.

the Federal government and especially economy Minister Sigmar Gabriel had repeatedly stressed after the announcement of the Chinese takeover desire to Kuka, they would welcome if there was an alternative offer from the German or European economy. That, however, did not materialize. The acquisition of Kuka by the Chinese company had triggered unrest in German politics. Reason is that the robot manufacturer is considered strategically important for the modernization of the German industry.

In the discussion on takeovers Gabriel called for a fundamental debate about how open economies in Europe to deal with unfair competition. This discussion should be conducted away from the case Kuka and that you will do that it was in the German Economics Ministry. China has been accused in Europe repeatedly to gain with government subsidies and unfair trade advantages.

The Chinese Midea Group has submitted for Kuka a bid in the amount of EUR 4.5 billion and almost with the aid over 95 percent of Kuka shares. Whether it is in the long term it is still open. The federal government had temporarily desired that the Chinese are content with 49 percent.


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