Slovenia’s Gorenje to delist from Ljubljana and Warsaw bourses

Slovenia’s Gorenje to delist from Ljubljana and Warsaw bourses
White goods maker Gorenje was founded in the village of Gorenje in Slovenia 68 years ago. Originally it made agricultural machinery. This photograph was taken in the late 1960s. / Volbenk Pajk.
By bne IntelliNews August 17, 2018

Slovenian household appliances manufacturer Gorenje Group (GRVG) is to delist from the Ljubljana Stock Exchange and the Warsaw Stock Exchange, the company announced on August 16.

China's Hisense Electric Co completed the acquisition of a 95.4% stake in Gorenje in the summer. The European Commission announced on August 7 that it had approved the acquisition. Gorenje selected Hisense as its strategic partner in May. The Slovenian white goods manufacturer wanted a partner that would support its long-term and sustainable growth and development. 

Gorenje also announced on August 16 that its supervisory board had decided to expand the management board to 12 members.

“The current members will be joined by six new members, that will use their knowledge and skills to accelerate the effective usage of all synergies, arising from the strategic partnership between the Hisense and Gorenje Groups. Their appointment is effective August 16, 2018, while they will execute their mandate on the territory of the Republic of Slovenia in line with their individual valid work permits, other appropriate permissions or visas,” Gorenje said.

Gorenje said that the final decision on withdrawing from the bourses will be discussed on September 17 when the newly appointed and extended management board will meet.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Slovenian banks NLB and Addiko extend initiative for converting Swiss franc loans to euros

Slovenian banks NLB and Addiko have introduced a special initiative aimed at supporting socially vulnerable borrowers with loans denominated in Swiss francs. Announced by the Association of Banks ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

Slovenian banks’ pre-tax profit surges 123.5% y/y in January-September

Slovenian commercial banks achieved €819.1mn in pre-tax profit during the first nine months of 2023, representing a surge of 123.5% compared to the corresponding period last year, the Bank of ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    10 days ago
  3. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  4. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  5. Russia’s war economy boosted by rising oil prices
    4 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    25 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    30 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    23 days ago

Reports

Dismiss