GORENJE, d.d., Velenje
Gorenje divests its subsidiary Gorenje Surovina
Pursuant to the provisions of the Rules and Regulations of the Ljubljana Stock Exchange d.d., Financial Instruments Market Act (ZTFI), and the Corporate Governance Code of the Ljubljana Stock Exchange the company Gorenje d.d., Velenje, hereby makes the following announcement:
Pursuing its strategy of focusing on the core activity of manufacturing and marketing domestic appliances, Gorenje Group continues to divest select subsidiaries active in its non-core businesses. Thus, we signed today with the company Eko Surovina, owned by the company Rastoder d.o.o., an agreement to sell the 100-percent ownership share in the company Gorenje Surovina and its subsidiaries.
Gorenje Surovina renders services related to waste treatment in the territory of Slovenia and, with a partner from the industry, offers comprehensive solutions to local communities and households for all types of waste. Along with its subsidiaries Kemis BH (Bosnia and Herzegovina) and Kemis Valjevo (Serbia), active in collection and processing of waste and extraction of secondary raw materials, it has over 300 employees. In the divestment process that took place from early this year and was managed by VTB Capital, the company Rastoder d.o.o., owned by Izet Rastoder, was selected as the best bidder for the company.
Rastoder said upon today's signing of the agreement: "We decided to acquire Gorenje Surovina due to major synergies with our core activity, especially in the field of packaging recycling. We intend to continue to develop Surovina and to expand our operations in all fields that the company is active in."
"We are pleased to see Gorenje Surovina, which was the largest company in Gorenje's non-core businesses, remain in domestic ownership, and that it will continue and expand its mission in the field of ecology. With their waste material collection and recycling operations, companies like Gorenje Surovina are a key factor both in preserving a clean environment and in the industry," said Marijan Penšek, executive director of the business area Ecology, Trade, and Industrial Services at Gorenje.
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The information in this announcement will be available on the official web site of the company Gorenje, d.d., Velenje, Slovenia, www.gorenjegoup.com, for at least 5 years from the date of this announcement.
The Management Board