Midea’s acquisition of Kuka approved by EU regulators

Date: 14 Oct 2016

Source: Reuters

China Midea announced on 13 Oct 2016 that its Kuka deal has won EU antitrust regulators’ approval.

European Union antitrust regulators do not expect Chinese household appliances company Midea Group's bid for German industrial robot maker Kuka (KU2G.DE) to pose any competition issues and will do a routine check before approving the deal.

The European Commission will examine the deal under its simplified procedure, according to a filing on its website on Monday. Such reviews mean the EU enforcer do not see the deals creating significant competition problems.

The Commission will announce its decision by Oct. 14. Midea sought EU approval last Friday for the deal, which initially raised concerns in Berlin about losing control of important technology. The German economy ministry gave the green light on Aug. 17.

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