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.
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