Hisense increases stake in Gorenje to 95% in takeover bid


The takeover bid was accepted by 5,165 owners, who held a total of 15,254,871 shares, the holding announced in Thursday's issue of the newspaper Delo. At EUR 12 apiece, Hisense paid a total of EUR 183.1m for the 62.46%.

It is unclear at what price Hisense acquired shares it got before the takeover bid. At EUR 12 a share, Gorenje is worth a total of EUR 293.1m.

Owning more than 90% of the company, Hisense will be able to squeeze out small shareholders.

The takeover is pending regulatory approval in markets where Hisense and Gorenje operate. Igor Štemberger, the CEO of stock broker Ilirika, which is in charge of the takeover procedures, expects the relevant approvals to be issued by autumn.

Hisense has decided to preserve the Gorenje brand and keep jobs in Velenje. The facility is to become Hisense's R&D centre in Europe.