On 17 May 2021 the general meeting of KUKA AG (KUKA) resolved, on request by majority shareholder Guangdong Midea Electric Co., Ltd., the transfer of the shares held by the minority shareholders of KUKA to Guangdong Midea Electric Co., Ltd. in return for an appropriate cash compensation. Guangdong Midea Electric Co., Ltd. is an indirectly wholly-owned subsidiary of listed company Midea Group Co., Ltd. (Midea). More than 99 % of the share capital represented at the virtual general meeting voted in favor of the squeeze-out, which will become effective upon entry in the commercial register.
Hengeler Mueller advises Midea on the squeeze-out. The team includes partners Oliver Rieckers and Bernd Wirbel, counsel Matthias Cloppenburg and Petra Mennicke as well as associates David Fabry and Ingo Albert (all Corporate, Düsseldorf).
