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September 8, 2016

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Russia’s nod for Kuka deal

MIDEA’S 27.6 billion yuan (US$4.1 billion) acquisition of Germany-based robot maker Kuka has been approved by Russia’s anti-monopoly regulator, the Shenzhen-listed firm said yesterday.

Regulators from China, Germany and the United States have also approved the deal which is expected to be finalized by March 2017 after Midea gets approval from regulators in the European Union, Brazil and Mexico.

Midea has also completed other acquisitions to bolster its research and development efforts around the world, including buying the home appliance business of Toshiba in Japan.

Midea also recently broke ground on a US$10 million R&D center in the US.


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