December 30, 2016 / 9:00 AM / a year ago

China's Midea receives green light from U.S. authorities to buy KUKA

FRANKFURT, Dec 30 (Reuters) - China’s Midea said it will complete the purchase of German robotics maker KUKA in the first half of January after authorities in the United States gave the takeover the green light.

“The United States government authorities Committee on Foreign Investment in the United States and the Directorate of Defense Trade Controls on December 29, 2016 have cleared the takeover of Kuka,” KUKA said in a separate statement on Friday.

As a result, all the conditions for closing the tender offer have been met and the settlement of the deal can be expected in the first half of January, Midea said.

Midea will control a 94.55 percent voting stake in KUKA after the takeover offer is executed. (Reporting by Edward Taylor; Editing by Tina Bellon)

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