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Panasonic is considering buying the Slovenian household appliance manufacturer Gorenje.
The Japanese company is beginning due diligence of the Gorenje Group that is expected to be completed by September. Panasonic currently holds a 10.74% stake in Gorenje.
The two other shareholders of the group are the state, via the state-owned pension fund manager Kapitalska Druzba (16,3%), and the International Finance Corporation (11,8%). The rest of the company is owned by various smallholders.
Gorenje’s value in terms of market capitalization is estimated to be near €160mn.
The company is a Slovene national symbol and one of the leading Slovenian exporters. In 2015 the company reported a net loss of €8mn, down from a marginal €1.2mn profit in 2014.
The post Panasonic readies to take over Gorenje appeared first on New Europe.