Chinese take over Slovenia's appliances maker Gorenje

China's Hisense Electronic has secured ownership of 94 percent of shares in Slovenia's household appliances manufacturer Gorenje.

Chinese take over Slovenia's appliances maker Gorenje

China's Hisense Electronic has secured ownership of 94 percent of shares in Slovenia's household appliances manufacturer Gorenje.

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(EPA, file, illustration purposes)

This means they will be able to push out the remaining shareholders, which would enable them to manage the company more easily, assesses the newspaper.

Stemberger thinks that many shareholders have decided to sell their stock because of the good price offered by the Chinese buyer - 12 euros per share - valuing Gorenje at 293 million euros.

The Chinese company, meanwhile, is announcing additional investments, and plans to retain Gornje's name and headquarters. They also offered guarantees that Gorenje will become a research and development center and Hisense's production center in Europe.