Newspaper article International New York Times

China Buyer Nears Deal for German Robot Maker

Newspaper article International New York Times

China Buyer Nears Deal for German Robot Maker

Article excerpt

A purchase of a one-quarter stake in the German robotics company would make Midea the largest Kuka shareholder as it seeks all of the company.

A Chinese appliance maker has struck a $1.3 billion deal that brings it closer to taking over a German robotics company, a proposed transaction that has stirred concerns in Germany about Chinese purchases of the country's industrial skills.

Voith, a German mechanical engineering company, said on Sunday that it had reached agreement to sell its roughly one-quarter stake in Kuka, a German robotics company, to Midea of China. The transaction, worth 1.2 billion euros, or about $1.3 billion, takes Midea a step closer to purchasing all of Kuka, which could be the biggest takeover of a German company by a Chinese buyer.

Midea -- which manufacturers consumer electronics like air- conditioners and rice cookers -- holds 13. …

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