Chinese firm offers $5 billion for German robot firm Kuka

Midea Group, a Chinese electrical conglomerate, has announced its intention to acquire German Robot maker Kuka AG in a deal valued at more than $5 billion.

Kuka is a supplier of intelligent automation solutions, with sales of around 3 billion euros and employing 12,300 people at its headquarters in Augsburg, Germany and around the world. Midea Group is a Chinese electrical appliance manufacturer which, as 2013, employed approximately 135,000 people in China and overseas. (Midea has assured to keep the headquarters of Kuka in Augsburg, keep the actual size of the workforce in Germany and in the foreign Kuka sites, keep its brand, as well as the listing of the Kuka shares in Germany).

To see a list of investors from China similar to Midea Group, check the Chinese Private Equity and Venture Capital Directory

More details follows