May 27, 2016 / 1:40 PM / 3 years ago

Germany monitoring Chinese takeovers to ensure no loss of technology: source

BERLIN (Reuters) - Germany is closely monitoring Chinese investment in the country and will consider each takeover on a case-by-case basis to ensure it does not lose key technology, a government source said on Friday.

“We support investment in Germany but we must make sure that there is no outflow of technology,” the source told Reuters.

“The activities of Chinese investors have increased. We are intensively watching these developments.”

A growing number of Chinese companies are seeking to acquire key German industrial technology.

Last week, home appliance maker Midea Group made a $5-billion bid for German robot maker Kuka, while on Monday China’s Fujian Grand Chip Investment Fund LP agreed to buy Aixtron for 670 million euros ($747.05 million).

ChemChina has also set its sights on SGL Carbon, according to a report from Manager Magazin.

($1 = 0.8969 euros)

Reporting by Markus Wacket; Writing by Caroline Copley; Editing by Joseph Nasr

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