Ljubljana/Velenje, 29 May (STA) - The company Hisense Luxembourg Home Appliance of the Chinese group Hisense published a takeover bid on Tuesday for the household appliances maker Gorenje. It is offering 12 euro per share for the 67% of the company it does not already own.
No success threshold has been set for the takeover offer, which was published in today's Delo and is open until 26 June.
Hisense, which already owns 32.95% of Gorenje, published its intent for the acquisition of the Velenje-based company on 11 May.
Gorenje had been searching for a strategic partner to support its efforts for a long-term and sustainable growth and development.
Before Hisense entered Gorenje, the company's single biggest owner was the state-owned KAD fund (16.37%), followed by International Finance Corporation, a member of the World Bank group (11.8%), and Panasonic (10.74%).
KAD will not sell its stake, as Gorenje is not slated for sale in the national strategy on asset management.
Hisense is one of the world's biggest makers of TV and household appliances with production facilities around the world, including in Europe. According to the company's webpage, Hisense employs around 75,000 people in more than 20 subsidiaries.