LJUBLJANA Slovenian home appliances maker Gorenje (GORE.LJ) said on Monday it had signed a deal with Japanese consumer electronics firm Panasonic Corporation (6752.T) that could lead to Panasonic taking it over.
"These activities may or may not lead to Panasonic's decision to launch a bid to increase its stake in Gorenje," the company said, adding both parties also agreed "the future role of Gorenje within Panasonic Group, should Panasonic through these activities obtain effective control of Gorenje."
Panasonic holds a stake of 10.74 percent in Gorenje, which has market capitalisation of about 161 million euros ($177 million).
(Reporting by Marja Novak; Editing by Alexander Smith)
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Published Date: Jul 26, 2016 00:30 AM | Updated Date: Jul 26, 2016 00:30 AM