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    KU2   DE0006204407

KUKA AG

(KU2)
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Midea : China's Midea seeking 49 percent Kuka stake

06/13/2016 | 01:20pm EST
A robot arm of German industrial robot maker Kuka is pictured at the company's stand in Hanover

BERLIN (Reuters) - China's Midea Group Co Ltd (>> Midea Group Co Ltd) is only seeking a 49 percent stake in German industrial robot maker Kuka (>> KUKA AG), Handelsblatt reported on Monday, citing unnamed sources in the German government.

BERLIN (Reuters) - China's Midea Group Co Ltd (>> Midea Group Co Ltd) is only seeking a 49 percent stake in German industrial robot maker Kuka (>> KUKA AG), Handelsblatt reported on Monday, citing unnamed sources in the German government.

Augsburg-based Kuka is the target of a takeover bid by the Chinese home appliance maker, which has fanned a furious debate over Chinese acquisitions in Europe, with some German politicians calling for tougher restrictions.

"Midea has clearly stated that its intentions are to have a meaningful stake in KUKA above 30 percent," a company spokesman said. "The ultimate level of our shareholding will depend on the level of KUKA shareholders that tender into the offer."

Chancellor Angela Merkel said during a visit to Beijing on Monday there was a general openness towards investments from China, but it was expected that the country opened up and offered the same investment conditions.

Instead of being majority-owned by Midea, Kuka would continue to have a strong German anchor shareholder, Handelsblatt reported, adding that Kuka Chief Executive Till Reuter would support such a solution.

Germany's Economy Ministry declined comment, while Kuka did not immediately respond to requests for comment.

(Reporting by Olaf Brenner, Ralf Bode and Alexander Huebner.; Writing by Andreas Cremer; Editing by Alexander Smith)

Stocks treated in this article : KUKA AG, Midea Group Co Ltd

ę Reuters 2016
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Analyst Recommendations on KUKA AG
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Financials
Sales 2021 3 003 M 3 397 M 3 397 M
Net income 2021 51,0 M 57,7 M 57,7 M
Net Debt 2021 95,4 M 108 M 108 M
P/E ratio 2021 56,7x
Yield 2021 0,28%
Capitalization 2 888 M 3 260 M 3 267 M
EV / Sales 2021 0,99x
EV / Sales 2022 0,99x
Nbr of Employees 14 017
Free-Float 5,45%
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Mean consensus SELL
Number of Analysts 1
Last Close Price 72,60 €
Average target price 56,80 €
Spread / Average Target -21,8%
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Managers and Directors
Peter G. Mohnen Chief Executive Officer
Liong Hauw Tan Chief Financial Officer
Yan Min Gu Chairman-Supervisory Board
Francoise Liu Member-Supervisory Board
Henning Kagermann Member-Supervisory Board
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