Ljubljana/Osaka – In July, Gorenje Group and Panasonic Corporation announced the creation of a long-term strategic alliance that will leverage the combined strengths and capabilities of the two companies, contribute to the profitability of both partners and improve their competitiveness in Europe, to the benefit of consumers. Raiffeisen Centrobank (RCB) alongside its partner, Lazard, advised Panasonic Corporation in this capital participation.
As a sign of confidence in the success of the alliance and commitment to the long-term business relationship, Panasonic will invest 10 million euros into a minority shareholding of Gorenje; concurrently Gorenje will execute an equity increase and dual listing to allow existing and new shareholders to benefit from the potential upside of the alliance.
The strategic alliance will allow both parties to better serve their customers by creating synergies that leverage the respective strengths and competitive advantages of each party.
About Gorenje
Gorenje Group is a leading European home appliance manufacturer supplying superiorly designed and technologically perfected appliances that simplify the lives of users in 90 countries around the globe. Product portfolio marketed under the brands Gorenje, Gorenje+, Atag, Asko, Pelgrim, Mora, Upo, Etna, and Körting is rounded off by the offer of kitchen furnishings and other home products like water heaters and heat pumps. In addition, the Group's operations include ecology services, toolmaking, and engineering.
About Panasonic
Panasonic Corporation is a worldwide leader in the development and engineering of electronic technologies and solutions for customers in residential, non-residential, mobility and personal applications. Since its founding in 1918, the company has expanded globally and now operates over 500 consolidated companies worldwide, recording consolidated net sales of 7.30 trillion yen (68.2 billion euro) for the year ended March 31, 2013.
About Raiffeisen Centrobank
Raiffeisen Centrobank is a leading Austrian investment bank. Jointly with its Raiffeisen Investment subsidiaries, it acts as a leading Mergers & Acquisitions (M&A) advisor in Emerging Europe. The core fields of business besides M&A are Equity Capital Markets (ECM), Privatisations, Structured Transactions, Private Placements and Merchant Banking. This is done by giving impartial advice and by combining top-level industry sector expertise of Raiffeisen Centrobank (Consumer Goods, Agro & Retail, Energy/Utilities, Financial Sponsors, Industrials, Life Sciences, Telecoms Media Technology) with local know-how through the Raiffeisen Investment network with more than 15 Country Offices. Raiffeisen Centrobank is a 100% subsidiary of Raiffeisen Bank International AG.
For further information please contact:
Mr. Henning von Stechow
Phone: +43 (0) 1 515 20-760
E-mail: stechow(at)rcb.at
Press contact:
Ms. Andrea Pelinka-Kinz
Phone: + 43 (0) 1 515 20-614
E-mail: pelinka-kinz(at)rcb.at
