Panasonic investigating Gorenje's operations, acquisition possible

The Japanese corporation Panasonic is carrying out due diligence on the Slovenian Gorenje, as confirmed by Franjo Bobinac, CEO of the Velenje-based company for the production of home appliances, and there also indications that Panasonic wishes to acquire the Slovenian company.

Panasonic entered Gorenje three years ago, when it acquired nearly 11% of the shares through an investment of EUR 10 million, and last year it bough an additional 1%.

Some consider that the aim of the investigation is to increase the Japanese corporation's share to 20% or even for Panasonic to take over the controlling stock. For that to happen, the condition is that the headquarters remain in Slovenia and that Gorenje brands be kept.

Panasonic started the investigation on July 13, the official announcement of which caused a significant growth of the value of the company's shares. Gorenje makes more than a billion euros in sales annually and is one of the leading Slovenian exporters.

Panasonic Corporation

Gorenje d.d. Velenje

Panasonic

Franjo Bobinac

production of home appliances