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Midea, which launched a 4.5 billion euro ($5 billion) offer for
Kuka in May, said Germany's markets regulator had approved the
settlement of the transaction, allowing it to control a 94.55
percent voting stake in Kuka from January onwards.
The bid for Kuka, a high-tech robotics manufacturer, sparked
controversy in Germany amid fears that key technologies were
falling into foreign hands at a time when China protects its own
companies against foreign takeovers.
Kuka said in a separate statement on Friday that the deal could
now go ahead.
"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.
The Chinese home appliances maker has sought to reassure Kuka
staff about the takeover with a long-term agreement to keep its
existing headquarters and management, and by saying it will
allow Kuka to operate independently and help it expand in China.
(Reporting by Edward Taylor; editing by Tina Bellon and David
Clarke)
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