Hengeler Mueller advised Midea on the deal.
The general meeting of KUKA AG (KUKA) resolved, on request by majority shareholder Guangdong Midea Electric Co., Ltd., the transfer of the shares held by the minority shareholders of KUKA to Guangdong Midea Electric Co., Ltd. in return for an appropriate cash compensation. Guangdong Midea Electric Co., Ltd. is an indirectly wholly-owned subsidiary of listed company Midea Group Co., Ltd. (Midea).
More than 99 % of the share capital represented at the virtual general meeting voted in favor of the squeeze-out, which will become effective upon entry in the commercial register.
KUKA is a global automation corporation with sales of around 2.6 billion euro and roughly 14,000 employees. The company is headquartered in Augsburg, Germany. As one of the world’s leading suppliers of intelligent automation solutions, KUKA offers customers everything they need from a single source: from robots and cells to fully automated systems and their networking in markets such as automotive, electronics, metal & plastic, consumer goods, e-commerce/retail and healthcare.
The Hengeler Mueller team included partners Oliver Rieckers (Picture) and Bernd Wirbel, counsel Matthias Cloppenburg and Petra Mennicke as well as associates David Fabry and Ingo Albert (all Corporate, Düsseldorf).
Involved fees earner: Ingo Albert – Hengeler Mueller; Matthias Cloppenburg – Hengeler Mueller; David Fabry – Hengeler Mueller; Petra Mennicke – Hengeler Mueller; Oliver Rieckers – Hengeler Mueller; Bernd Wirbel – Hengeler Mueller;
Law Firms: Hengeler Mueller;
Clients: Midea Group CO., LTD;