June 14, 2018 / 12:50 PM / 9 days ago

Slovenia fund to sell state's stake in Gorenje to China's Hisense

LJUBLJANA, June 14 (Reuters) - Slovenian state-owned investment fund KAD, which manages some of state assets, will sell its stake in household appliances maker Gorenje to China’s Hisense Electric, the government said on Thursday.

Hisense announced a takeover bid for Gorenje last month, offering 12 euros per share which values the company at about 293 million euros ($344.01 million).

KAD owns 16.4 percent of Gorenje, which is one of Slovenia’s largest exporters, and will get almost 48 million euros for its stake.

“The government ... does not oppose the sale (of KAD’s stake in Gorenje),” it said in a statement after its regular weekly meeting.

Hisense has already acquired more than 60 percent of Gorenje as part of its takeover bid which expires on June 26, local media reported.

$1 = 0.8517 euros Reporting by Marja Novak; editing by Jason Neely

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