Chinese enter Managing Board of Gorenje – New owner to withdraw shares from stock exchange?

The new owner of Gorenje, the Chinese corporation Hisense, has decided to withdraw the shares of Gorenje from the stock exchange, and the decision is supposed to be reached at the GM scheduled for September 17, Seebiz reports.

Hisense owns a 95.42% stake in Gorenje, and it is willing to offer EUR 12 per share to small shareholders, the price equal to the one at which it bought out the ownership stakes of larger shareholders three months ago.

The Management Board of Gorenje has been expanded by six members from Hisense Group, the company announced.

As said in the press release, at the proposition of the president of the Managing Board of Gorenje, Franjo Bobinac, the Supervisory Board of the company has expanded the number of members of the Managing Board to 12. The appointment of the new members comes into effect today.

– The expansion of the Managing Board is a natural step in the process that the management bravely initiated around a year ago. We've found a strategic owner and a partner with which Gorenje will grow and develop at a quicker rate. An excellent team, recommended by Hisense Group, brings knowledge and skills in order to accelerate the integration and the synergy between these two groups – Bobinac pointed out.

Gorenje has 11,000 employees. In addition to Slovenia, it also has production capacities in the Czech Republic and Serbia.

Gorenje d.d. Velenje

Hisense Co., Ltd.

Franjo Bobinac

acquisition of Gorenje

Gorenje Managing Board