Panasonic currently has a 10.74% stake in Gorenje. It acquired a smaller stake under a strategic partnership agreement signed in 2013 and then increased it at the end of 2015.

Under the strategic partnership deal, Panasonic pledged not to increase its holding to over 13% without the prior consent of the management and supervisory boards.

Gorenje said in a statement issued late on Monday that no decision on entering into any transaction had been made yet.

"Among the conditions for the execution of the due diligence, both parties also agreed on the strategic guidelines for the future role of Gorenje within Panasonic Group, should Panasonic through these activities obtain effective control of Gorenje," the release says.

As of the end of June Panasonic was Gorenje's third biggest shareholder after the state-run KAD fund (16.37%) and the International Finance Corporation (11.8%).