October 26, 2016 | Industrials | Europe | Ended

Kuka / Midea: Implications of the BMWi Certificate Withdrawal of Aixtron / Grand Chip

Our thoughts on the likelihood that the German Federal Ministry of Economic Affairs and Energy (BMWi) revisits and revokes the Certificate of Non-Objection that was issued for Midea’s acquisition of Kuka. This is on the back of the recent confirmation that Grand Chip Investment received a letter from BMWi announcing the withdrawal of the BMWi Certificate of Non-Objection, that previously approved the Aixtron / Grand Chip transaction on 8-Sep-16.

Contents 1. German National Security: Sensitive versus Non-Sensitive Sectors 2. German National Security: Different Paths to Approvals, Certificates of Non-Objection 3. What Could Have Happened with Aixtron / Grand Chip 4. Implications of BMWi’s Recent Decision on Kuka / Midea 5. Views on BMWi Withdrawing the Certificate of Non-Objection Issued to Midea 6. CFIUS update 7. Latest Views on the Transaction (5 pages)

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