KAD sells its 16% stake in Gorenje
Once the transaction is completed, KAD will no longer have a stake in the Velenje-based company.
Hisense published the takeover bid, which expires today, on 29 May, offering 12 euro per Gorenje share, and has since acquired more than two thirds of the company.
Before that, KAD was the largest single owner.
Since its stake in Gorenje is classified as "an important investment" in the state asset management strategy, selling it would require parliament's changing the strategy.
But then the Finance Ministry said the strategy was merely a political document, and entrusted the KAD management with the final decision.
Once taken over, Gorenje is planned to become an R&D centre and Hisense's production centre for Europe.