Stroock Advises KUKA AG Before CFIUS Related to $5 Billion Acquisition by Chinese Investor
Washington, DC, January 17, 2017 — Stroock attorneys acted as counsel to KUKA AG before the Committee on Foreign Investment in the United States (CFIUS) and the Directorate of Defense Trade Controls in connection with KUKA’s recent acquisition by MECCA International (BVI) Limited, a subsidiary of Midea Group Ltd., a Chinese corporation. KUKA, a German corporation and one of the leading manufacturers of industrial robots, has several businesses in the United States. On December 29, 2016, KUKA and Midea received notice that the transaction had been cleared by both U.S. Government agencies. The transaction has now closed.
The transaction, valued at 4.5 billion euro ($5 billion), was the largest acquisition of a German company by a Chinese investor, and the first Chinese corporate acquisition of a publicly traded German company. The Stroock team was led by special counsel Chris Brewster, with partner Chris Griner, and included special counsels Anne Salladin and Greg Jaeger, associates Shannon Reaves and Amelia Schmidt and national security consultant Erin Bruce Iacobucci. Acting for KUKA were Dr. Siegfried Schwung, General Counsel, and Marcus Gebert, LL. M., Associate General Counsel, KUKA AG, and Heiko Kaufmann, International Legal Director, KUKA U.S. Holdings Company LLC.
“This case involved a number of complex corporate variables, several countries and U.S. regulatory issues. Our experienced team was able to bring their talents in the areas of CFIUS, government contracts and export control to achieve a successful resolution to the satisfaction of all parties,” said Chris Griner, Chair of Stroock’s National Security Group.
Stroock’s internationally recognized National Security/CFIUS/Compliance Practice Group has extensive experience representing clients before CFIUS and the U.S. Department of State. In addition to CFIUS reviews, we represent clients in all aspects of U.S. national security regulatory issues, both in the context of transactions as well as in general compliance matters.
Stroock is a law firm providing transactional, regulatory and litigation guidance to leading financial institutions, multinational corporations, investment funds and entrepreneurs in the U.S. and abroad. With a rich history dating back 140 years, the firm has offices in New York, Washington, DC, Los Angeles and Miami. For more, visit www.stroock.com.