August 16 (SeeNews) - Hisense Luxembourg Home Appliance Holding, a member of China's Hisense Group, plans to squeeze out the minority shareholders in Slovenia's Gorenje, offering to pay them 12 euro ($13.6) per share, Gorenje said on Thursday.
Hisense is proposing to Gorenje's general assembly to adopt its squeeze-out plan at a session scheduled for September 17, the home appliances maker said in a Ljubljana bourse filing.
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Hisense holds a 95.42% stake in Gorenje, while minority shareholders control 1,119,728 shares among themselves.
Earlier this months, the European Commission said it has cleared the acquisition of sole control of Slovenia's white goods manufacturer by Hisense Group.
On May 28, Slovenia's securities market agency, ATVP, issued a permit to Hisense for a takeover bid for 24,424,613 Gorenje shares, minus the 8,050,014 shares that the acquiring party already held.
Hisense informed ATVP that between May 29 and June 26 the takeover bid was accepted by 5,165 shareholders, who held a total of 15,254,871 GRVG shares, representing 62.46% of all Gorenje shares.
In May, Gorenje selected Hisense as the best bidder in a tender for a strategic partner.
($=0.879360 euro)
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