Chinese takeover bids in Germany are on the rise. First Chinese household appliance corporation Midea took a majority stake in Kuka, then a Chinese consortium bought the lamps unit of lighting giant Osram. Combined, the two deals come to €5 billion, or $5.58 billion.
Germany is now top of the list for Chinese overseas investments.
Michael Buckley, head of M&A at the largest Chinese exchange-listed investment bank Citic, said Chemchina’s takeover of Syngenta, the Swiss seed and pesticide company, was a particularly “clear sign of a new Chinese confidence.”