Squeeze-out at KUKA Aktiengesellschaft entered in the Commercial Register - Appropriateness of cash compensation to be reviewed by the Munich Regional Court I

by Attorney-at-law Martin Arendts, M.B.L.-HSG

After settlement of the actions for rescission and nullity against the squeeze-out resolution adopted at the Annual General Meeting of KUKA Aktiengesellschaft on May 17, 2022, the resolution was entered in the Commercial Register at the Augsburg Regional Court on November 8, 2022. The publication reads:

"The Annual General Meeting of May 17, 2022 resolved to transfer the shares of the remaining shareholders to the main shareholder, Guangdong Midea Electric Co., Ltd. with registered office in Foshan City, PR China, State Administration of Industry and Commerce (SAIC) PR China, number 91440606MA4W96D79N, in return for cash compensation."

With this entry in the commercial register, the minority shareholders lost their share ownership by law. The deposit item therefore now only relates to the compensation and subsequent improvement claims. A derecognition against payment of the cash settlement and interest accrued until then is expected to take place in the next few days.

The appropriateness of the cash compensation offered to KUKA minority shareholders in the amount of EUR 80.77 per bearer share will be subject to judicial review by the Munich Regional Court I (where appraisal proceedings from the Munich Higher Regional Court district are centralized). The law firm ARENDTS ANWÄLTE will apply for a review on behalf of several excluded minority shareholders.

Further information: kanzlei@anlageanwalt.de