Xinhua News Agency, Berlin, April 26, according to German media reports, the German government has approved China's Antai Technology (000969, shares it) Co., Ltd. to acquire the German aviation carbon fiber company Kotesa.
According to the German "Frankfurt Report" quoted Kotelsa CEO Jorge Husken, the German Ministry of Economics and Energy has agreed to the acquisition.
Kotsa is a German manufacturer of aerospace carbon fiber composite parts and a supplier to aircraft manufacturers such as Airbus and Boeing. Its products are also widely used in the automotive and aerospace industries. The company is headquartered in the eastern part of Saxony, Germany, with approximately 750 employees and an annual turnover of approximately 65 million euros.
In September last year, Kotsa signed an acquisition contract with China Antai Technology Co., Ltd., with a transaction volume of 100 million to 200 million euros. However, at the end of December last year, the German government considered investigating the transaction on the grounds of its core high-tech.
The German Ministry of Economics and Energy revised the Foreign Economic Law in July last year to increase the review of foreign mergers and acquisitions. All mergers and acquisitions involving critical infrastructure, including water supply, power supply, medical care, transportation and high-tech, will be reviewed by the German government, and the review time will increase from the previous two months to four months.
On the same day, the German Ministry of Economics and Energy refused to respond to the approval of the transaction.
