May 8, 2018 / 2:15 PM / in 8 months

Slovenian appliances maker Gorenje receives three takeover bids

LJUBLJANA (Reuters) - Slovenian household appliances maker Gorenje GORE.LJ has received three binding takeover bids, all from Asian firms, the company said in a statement on Tuesday.

It said it will examine the bids and issue further news on the process by May 15. It did not elaborate.

Local media citing unofficial sources said the bids were filed by Chinese household appliance makers Haier (1169.HK), Hefei Meiling 000521.SZ and Hinsense Electric (600060.SS). The companies were not immediately available for comment.

Gorenje, which is one of the largest Slovenian exporters and has market capitalisation of some 154 million euros (135.2 million pounds), said last year it was seeking a strategic partner to increase cost efficiency and strengthen the brand.

In March it reported that its 2017 profit dropped by 84 percent due to strong competition and high production costs.

Shares of Gorenje rose by 1.27 percent to 6.38 euros on Tuesday, before the news was released, while the blue-chip SBI index .SBITOP eased 0.13 percent.

Reporting by Marja Novak, editing by Louise Heavens

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