FRANKFURT: Chinese appliance giant Midea said on Monday (Tuesday in Manila) it had secured almost 95 percent of German robotics firm Kuka, in the face of European fears over losing control over the high-tech company.
The company already held 13.51 percent of Kuka—a world-leading manufacturer of industrial robots —before its June offer of 115 euros per share, which valued the firm at 4.6 billion euros ($5.1 billion).
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