Guangdong Midea Electric Appliances Co. Ltd. offered to acquire the remaining 4.69% stake in KUKA Aktiengesellschaft (XTRA:KU2) for approximately €150 million on November 23, 2021. 95.31% stake in KUKA Aktiengesellschaft are already held by subsidiaries of Midea Group Co., Ltd., parent company of the buyer. The resolution to transfer the minority shares will be adopted at the next Annual General Meeting of KUKA, which is scheduled in May 2022. The effectiveness of the transfer of the shares of the minority shareholders depends on the approval of the general meeting of KUKA Aktiengesellschaft and the registration of the transfer resolution in the commercial register of KUKA Aktiengesellschaft. The Annual General Meeting of KUKA on May 17, 2022, resolved to transfer the remaining shares in return of cash consideration of €80.77 per share. The appropriateness of the cash compensation is currently being audited by the auditor appointed by the court, Baker Tilly. Oliver Rieckers, Bernd Wirbel, Matthias Cloppenburg and Petra Mennicke of Hengeler Mueller advises Midea on the squeeze-out. Clifford Chance LLP acted as leagal advisor to KUKA.

Guangdong Midea Electric Appliances Co. Ltd. completed the acquisition of KUKA Aktiengesellschaft (XTRA:KU2) on November 16, 2022.