On June 26, Slovenian household appliance manufacturer Gorenje issued a press release announcing that the company had received notice from Slovenia's state-owned KAD Fund to sell its 16.37% stake in Gorenje to China's Hisense Group.

At this point, as of the last day of the takeover offer period (June 26), China Hisense has acquired more than half of the equity of Gorenje, marking that Hisense Group has successfully acquired Gorenje Company, and the final delivery of the equity will be carried out and completed in the following week.

According to the Oriental Fortune Network, GORENJE was founded in 1950 in a village called GORENJE in the former Yugoslavia and initially produced household stoves. In 1960, it moved to the city of Velenje, where the company is located, and in 1961 began to export products to former West Germany, and then began to produce washing machines, refrigerators, kitchen appliances and other products. In 2005, the company began to internationalize, and successively acquired the Czech kitchen appliance company MORAVIA, the Dutch ATAG company, and the Swedish high-end kitchen appliance company ASKO.

GORENJE has now developed into the largest production-oriented enterprise and the largest exporter in Slovenia, forming a brand system and development strategy combining ASKO high-end brand, GORENJE as a mid-range brand and ATAG and other regional brands, and also forming a sales system combining ASKO and GORENJE brands.

Excerpt from: Electrical Magazine Micro Platform