AUGSBURG (dpa-AFX) - The US government authorities - Committee on Foreign Investment in the United States - CFIUS and Directorate of Defense Trade Controls - DDTC have cleared the take-over of KUKA AG (KUKAY.PK) by MECCA International (BVI) Limited, a 100% subsidiary of Midea Group Co., Ltd.
As a result, all closing conditions of the tender offer of June 16, 2016 have been met. The settlement of the tender offer can be expected in the first half of January 2017.
In May 2016, Midea Group offered to the shareholders of Kuka by way of a voluntary public takeover offer to acquire their no-par value bearer shares in KUKA, each representing a notional amount of 2.60 euros in the registered share capital, against payment of a cash consideration of 115.00 euros per share.
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