China’s Midea buys nearly half of German robotics firm Kuka

FRANKFURT: Chinese appliances giant Midea moved a step closer to fulfilling its ambition to acquire German industrial robotics firm Kuka with two weekend deals raising its stake to nearly a majority. 

Two of Kuka’s biggest German shareholders – technology company Voith and entrepreneur Friedhelm Loh – said they had decided to take up Midea’s offer of €115 (RM512) per share and sell their stakes. 

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