Midea To Buy Remaining Stake in German Robotics Company Kuka

The Wall Street Journal reported on March 25 that German robotics company kuka said that Guangdong Midea Electric Co., Ltd., which holds more than 95% of the company's shares, said it would pay 80.77 euros (about 88.89 US dollars) per share in cash to the remaining shareholders.

Guangdong Midea Electric Co., Ltd. is a wholly-owned subsidiary of Midea Group, and the bid was determined based on an assessment of Kuka's enterprise value, Kuka said.