Panasonic gives up on Gorenje acquisition – Slovenian company makes EUR 4.1 million in nine months of 2016

Panasonic will not be increasing its current stock in Gorenje (around 12%), as reported by the Japanese corporation, which was performing due diligence of the Slovenian home appliances producer's operation from July 2016.

– Following the due diligence and taking all relevant factors into account, such as the market circumstances, the current ownership structure of Gorenje and the analysis of the results of the due diligence, we have decided that Panasonic can't continue the activities of increasing the ownership stock nor the procedure of acquisition – the Japanese company stated.

Gorenje has reported that the group had EUR 900,9 million in revenues in the first nine months of 2016, whereas the pure profit of EUR 4.1 million marked a considerable improvement compared to the loss of EUR 6.9 million in the corresponding period of 2015, Seebiz reports.

– According to the orders received, we estimate that we will have the highest quarterly revenues in 2016 in the final three months of the year, with income of EUR 340-350 million – Gorenje reports.

Gorenje d.d. Velenje

Panasonic Corporation

Panasonic

production of home appliances

Gorenje profit

Gorenje revenues