We hate to say it (again) but, we told many people that it would be of no surprise at all if one of the big fish made a bid for Gorenje well, apparently that has happened.
To be fair, we thought it'd be Electrolux that would go for gold here but from left of field, the Chinese company Hisense has made a bid for the Slovenian manufacturer.
But we are led to believe that three Chinese companies are in the running to buy Gorenje, Hisense, Haier and Hefei Meiling.
Hisense has apparently won out now owning more than 50% of Gorenje shares at a cost of €293 million.
Gorenje openly said last year it is seeking a strategic partner to increase cost efficiency and brand awareness. Then the company reported earlier this year that their net profit in 2017 fell 84% due to cost pressures and intense competition.
So selling the business does make sense.
If we hear any more we will update as required.