July 5, 2013 / 9:32 AM / in 4 years

Panasonic to buy minority stake in Slovenian Gorenje

LJUBLJANA, July 5 (Reuters) - Japanese electronics producer Panasonic will buy a roughly 13 percent stake in Slovenian household appliances maker Gorenje for 10 million euros ($12.91 million), Gorenje said in a statement on Friday.

It said the exact size of Panasonic’s stake in the company will depend upon a rise in share capital to be carried out by current Gorenje shareholders in the coming months but gave no details.

Gorenje is the small euro zone member’s second largest exporter and has market capitalisation of 66 million euros.

Shares in the company rose by 4.48 percent to 4.3 euros by 0915 on Friday, boosted by the news, while the blue-chip SBI index gained 0.51 percent. ($1 = 0.7744 euros) (Reporting by Marja Novak; editing by Patrick Graham)

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