Chinese appliance maker Midea announced on Monday that it is acquiring roughly 95 percent of German robot maker Kuka amid the European government's fear of totally losing control over the company.

Midea, which already owned 13.51 percent of Kuka, is poised to acquire 37,605,732 shares (or 94.55 percent of the company's shares) after the bid is settled. Midea announced the bid on June 16, offering to pay $127 per share, valuing Kuka at about $5.1 billion.

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On Monday, Midea revealed that by the end of the extended acceptance period at midnight on August 3, a total of 81.04 percent of shares were tendered, totaling 94.55 percent. The offer is still subject to regulatory approval.

Meanwhile, European government officials including German Economy Minister Sigmar Gabriel and European Commissioner Guenther Oettinger have voiced out concerns about how Germany is losing control over its cutting-edge intellectual property and technology to China. Some German firms such as Kion, Putzmeister, and KraussMaffei are now under Chinese ownership.

To alleviate these concerns, Midea has said that Kuka will remain independent and that it has no plans of seeking a domination agreement or delist the company. Furthermore, it vowed to keep Kuka's original headquarters and not reduce its workforce until 2023 if the deal pushes through, Xinhua reported.

Midea, which is popular for making air conditioners and washing machines, aims to expand automation in its factories as it faces increasing labor cost in China. This move will make Kuka's robots attractive to other Chinese manufacturers in the country. 

TagsMidea, Kuka, robot maker, Germany, china