According to foreign media reports, the European Commission has approved the Chinese home appliance company Hisense Group to acquire Europe's Slovenian home appliance manufacturer Gorenje.
According to the report, after the investigation, the European Commission announced on the 7th that Hisense Group's acquisition of Gorenje did not violate any international laws and regulations, would not constitute an industry monopoly, and would not trigger vicious competition in the industry.
As early as May of this year, Hisense officially submitted the acquisition intention, and was willing to initiate the acquisition at a price of 12 euros per share for a total of 183.1 million euros. This is another major acquisition since the acquisition of Toshiba TV in 2017 by Hai Trust’s Sharp North America business. .
According to foreign media reports, last month, the Slovenian regulator officially approved the Chinese home appliance brand Hisense Group to acquire Gorenje, which is now approved by the European Commission.
According to information from the Slovenian securities market agency 'ATVP', Hisense successfully acquired a 95.42% stake in Gorenje. The acquisition announced that Hisense has also taken over an old-fashioned home appliance company, and the merger of the two home appliance manufacturers will promote Hisense's globalization process.
It is understood that Gorenje was founded in 1950 and has 11,000 employees. It is the backbone of the European home appliance manufacturing industry. Gorenje has strong strength in kitchen appliances and washing machines, and has a complete sales system in Europe. Come, because of the competitive pressure on the market, the brand has experienced a serious decline. In 2017, Gorenje's net profit fell by 84%.