June 11 (SeeNews) - Panasonic Corporation is disposing of all of its shares in Slovenian white goods manufacturer Gorenje [LJE:GRVG], after accepting the takeover offer of Hisense Luxembourg Holding S.a r.l., Gorenje said.
The takeover offer was accepted for a total of 2,623,664 shares held by Panasonic, representing 10.7419% of all shares in Gorenje, the Slovenian company said in a filing to the Ljubljana Stock Exchange late on Friday.
You can subscribe to our M&A newsletter here
After the closing of transaction, the Panasonic Corporation will no longer hold any ownership share in the company Gorenje d.d.
Last month, Hisense Luxembourg Home Appliance Holding S.a r.l., a member of China's Hisense Group, offered to pay 196.5 million euro ($232.1 million) for the 16,374,599 shares of Gorenje it did not already own.
Prior to that Gorenje selected Hisense as the best bidder in a tender for a strategic partner. Hisense had offered to pay 12 euro per share for 50% plus one share of Gorenje, the Slovenian company said back then.
($=0.846498 euro)
Gorenje d.d. is among the biggest companies in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here