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Gorenje. Foto: BoBo

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Slovenia's Gorenje gets four bids for partnership, shares jump

8. March 2018 ob 13:12
Ljubljana - MMC RTV SLO, Reuters

Shares in Slovenia's Gorenje jumped by almost 9 percent on Thursday after the household appliances maker announced it had received four non-binding bids from Asia to form a strategic partnership.

The shares were up 9 percent at 5.60 euros at 11.58 GMT.

Gorenje declined to provide further details. It plans to update on the process on March 15. The company is expected to allow one or more bidders to perform due diligence before filing a binding bid.

Last year, Gorenje, one of Slovenia's largest exporters, said it was seeking a strategic partner to improve cost efficiency and strengthen the brand. Japan's Panasonic, which had looked at making a takeover bid for Gorenje, decided against the idea in November 2016. It owns almost 11 percent of the company.

Reuters
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