Wednesday, 14th March 2018, Velenje
Gorenje invites three potential partners to perform the due diligence
Following a thorough analysis and review of strategic business elements as well as other elements of non-binding partnership offers received, Gorenje has invited three potential partners into the due diligence phase of the process. All three are based in Asia, are active in the household appliances industry and have submitted offers to acquire a majority stake in the company (at least 50% +1 shares of the whole share capital).
In addition to the four previously
disclosed non-binding offers, Gorenje received a fifth non-binding offer on March 13,
2018. The offer was from a potential strategic partner in Europe, active in the
household appliance industry. Following a thorough analysis and
review of all five
non-binding partnership offers received, Gorenje has invited three potential
partners, all based in Asia and active in the household appliances industry, into the due diligence phase of the process. All three have submitted offers
to acquire a majority stake in the company (at least 50% +1 shares of the whole
share capital).
In the due diligence phase of the
process potential partners will be granted access to a virtual data room on the
Gorenje Group from March 23, 2018 onwards, they will also be invited to selected site visits at
Gorenje Group facilities as well as meetings with top management during April
2018.
The deadline for submitting binding
offers has been set for May 8, 2018.
Taking into account the provisions
of the signed confidentiality agreements with interested strategic partners,
Gorenje will not comment on potential media or public speculations regarding the names of the interested partners.
The next update on the process will
be provided by May 15, 2018.