Factbox: China develops an appetite for German technology firms

Beijing Enterprises Holdings

24/10/2016 15:28

Oct 24 (Reuters) - The German government withdrew its 
approval for a Chinese takeover of chip equipment maker Aixtron 
 AIXGn.DE  on Monday, citing security concerns and throwing up 
an unexpected hurdle for a 670-million-euro ($728 million) deal 
on the home stretch.  urn:newsml:reuters.com:*:nL8N1CU0GJ 
    The decision to review the takeover comes amid rising 
concern over whether the government should do more to protect 
strategic technologies following a series of bids for German 
companies by Chinese investors this year. 
    Following is a list of other recent major takeover deals and 
offers for all or part of German companies by Chinese firms: 
 
    OSRAM  OSRn.DE  
    Chinese chipmaker Sanan Optoelectronics  600703.SS  said two 
weeks ago it had had "preliminary contact" with German lighting 
group Osram  OSRn.DE  - whose market valuation is 6 billion 
euros - regarding a potential acquisition or cooperation deal. 
 urn:newsml:reuters.com:*:nL8N1CG2FZ 
     
    ALBA INTERNATIONAL HOLDING 
    Chengdu Techcent Environment  300362.SZ  agreed last week to 
acquire assets in Germany's ALBA worth more than 300 million 
euros.  urn:newsml:reuters.com:*:nL4N1CG0MV     
     
    BROETJE-AUTOMATION 
    China's Shanghai Electric Group  601727.SS  bought German 
aviation equipment manufacturer BAW for HK$1.7 billion ($219 
million) in August.  urn:newsml:reuters.com:*:nL3N1AW07B 
     
    LEDVANCE 
    Osram agreed in July to sell Ledvance, a general lighting 
lamps business it had carved out, to a Chinese consortium for 
more than 300 million euros.  urn:newsml:reuters.com:*:nL8N1AC5WV 
     
    KION  KGX.DE  
    Weichei Power  000338.SZ  took a 25 percent stake in German 
forklift truck maker Kion in 2012. After Kion's initial public 
offering in 2013, Weichei gradually increased its stake. It took 
part in a July placement of new shares, and its 40 percent 
shareholding is today worth 2.5 billion euros. 
     
    MEERWIND 
    China Three Gorges  CYTGP.UL , which operates the world's 
largest hydropower plant on the Yangtze river, will buy German 
offshore wind park Meerwind from U.S. buyout firm Blackstone 
 BX.N  for an estimated 1.6 billion euros, the companies said in 
June.  urn:newsml:reuters.com:*:nL8N19525A  
     
    KUKA  KU2G.DE  
    Chinese home appliance maker Midea Group  000333.SZ  made an 
offer on May 18 to buy Kuka, valuing the German factory robot 
manufacturer at around 4.5 billion euros, in by far the most 
expensive bid so far by a Chinese investor to gain control of 
German industrial technology.  urn:newsml:reuters.com:*:nL5N18F0EP 
     
    ENERGY FROM WASTE 
    Beijing Enterprise  0392.HK  agreed in February to buy 
Energy from Waste from Swedish buyout group EQT in a deal 
valuing the German waste management company at about 1.8 billion 
euros, as China sets about tackling its pollution and waste 
recycling problems.  urn:newsml:reuters.com:*:nL8N15J1PZ 
     
    KRAUSMAFFEI  KMGER.UL  
    A group of Chinese investors including China National 
Chemical Corp (ChemChina)  CNNCC.UL  agreed in January to buy 
plastics processing machinery maker KraussMaffei Group GmbH for 
925 million euros from Canada's Onex Corp  OCX.TO , at the time 
the biggest-ever Chinese investment into Germany. 
     
    HAUCK & AUFHAEUSER 
    Fosun International  0656.HK  agreed last July to buy German 
private bank Hauck & Aufhaeuser for up to 210 million euros, in 
what would be the first Chinese takeover of a German bank. 
German financial watchdog Bafin is still reviewing the planned 
takeover.  urn:newsml:reuters.com:*:nL3N0ZO4F8 urn:newsml:reuters.com:*:nL8N1443P1 
($1 = 7.7576 Hong Kong dollars) 
($1 = 0.8928 euros) 
 
 (Reporting by Alexander Huebner; Writing by Georgina Prodhan; 
Editing by Maria Sheahan and Mark Heinrich) 
 ((georgina.prodhan@thomsonreuters.com; +49 69 7565 1279; 
Reuters Messaging: 
georgina.prodhan.thomsonreuters.com@reuters.net)) 
 
Keywords: GERMANY M&A/CHINA